Why Ocugen Sank Friday After Soaring Thursday
What a difference a day can make in the biotech world. On Friday, shares of Ocugen (NASDAQ: OCGN) fell by 5.8%, quite a contrast from the 10%-plus gain of the preceding day. Investors might have been looking at the big picture of the coronavirus vaccine the company is linked to, and not enjoying the view.
Thursday's news from Ocugen was inarguably positive. The company happily reported that the Covaxin jab developed by its partner, India-based Bharat Biotech, had shown excellent results in phase 2/3 testing on children aged 2 to 18. The vaccine produced a strong neutralizing antibody response from their young systems, and overall delivered a 93%-plus reduction in severe disease with no severe adverse events.
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Source Fool.com
