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Is Ocugen Stock a Buy Now?

TheMotleyFool

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Is Ocugen Stock a Buy Now?Photo, wide shot, wide-angle lens, Convenience store, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.midjourneyapi.xyz/temp/35bdb659-cf5a-466a-95a9-428a230a2d2e.png

Ocugen (NASDAQ: OCGN) got some positive news last week as the Food and Drug Administration (FDA) lifted the clinical hold on its investigational new drug application (IND) for Covaxin, also known as BBV152. The stock jumped in after-hours trading on the news, though it has since dropped.

The FDA's action clears a roadblock for Ocugen that could help lead to its COVID-19 vaccine obtaining FDA approval. Is this a reason to invest in the stock, or is it still too risky a buy?

Image source: Getty Images.

Source Fool.com

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