Why Ocugen Stock Popped by 7% on Tuesday
There's nothing like a good quarter to juice a company's stock. That was the case on Tuesday with ambitious biotech Ocugen (NASDAQ: OCGN), whose share price leaped 7% higher after the company unveiled its third-quarter results.
Ocugen, which surged to prominence during the coronavirus pandemic for its efforts to develop a COVID-19 vaccine, published those results before market open. These revealed that the pre-revenue company more than doubled its net loss to nearly $22 million ($0.10 per share) from the year-ago shortfall of just under $10.8 million.
Despite the notably deeper deficit, the clutch of analysts following Ocugen stock were essentially modeling that $0.10 per-share loss for the biotech.
Source Fool.com
