Can Ocugen Overcome This Major Hurdle?
Ocugen (NASDAQ: OCGN) is the biotech stock everyone's been talking about these past few months. The company made a splash when it said it was partnering with India's Bharat Biotech to bring an almost-ready coronavirus vaccine candidate to the U.S. market. As a result, Ocugen's shares have soared more than 400% so far this year.
The potential vaccine -- Covaxin -- is in phase 3 development in India. The country granted it emergency authorization earlier in the year. As part of the deal with Bharat, Ocugen stands to benefit from 45% of U.S. vaccine profits -- if the U.S. Food and Drug Administration (FDA) offers Covaxin authorization. But even if the FDA gives the product a nod, Ocugen still faces a major hurdle.
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Source Fool.com
