Many stocks might have recorded gains yesterday but it was the Ocugen Inc (NASDAQ: OCGN) stock that proved to be particularly eye-catching. The stock continued its rapid rise on Wednesday after the emergence of significant news about the company.
The Ocugen stock soared by as much as 223% yesterday after a news report revealed that the company is working with India’s Bharat Biotech with the aim of bringing its COVID-19 vaccine to the United States.
It is a significant development since the demand for a vaccine remains higher than ever, especially after the spike in the number of cases in recent days. The company is aiming to take care of the commercialization as well as the development of the vaccine.
Zegbeh Jallah, an analyst at Roth Capital, stated that this deal will help Ocugen in generating strong revenues. It seems that the market believes so as well. It remains to be seen if the stock can add to those gains today.