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Here's Why Ocugen Stock Soared Today

TheMotleyFool

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Here's Why Ocugen Stock Soared TodayPhoto, wide shot, wide-angle lens, Clinical research organization, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/c28f6640-54ba-4d2b-afbe-b5fd3b0ee19e.png

Shares of Ocugen (NASDAQ: OCGN) surged 23.8% on Monday after the biotechnology company released promising data from a study of Covaxin, the COVID-19 vaccine candidate it hopes to bring to the U.S. market.

Researchers at the Indian Council of Medical Research (ICMR) - National Institute of Virology believe Covaxin could protect against multiple coronavirus strains. Covaxin appeared to be effective against a variant from Brazil known as B.1.128.2. A previous study indicated that Covaxin could also protect against variants from the U.K. and India.

Investors bid up Ocugen's stock price on Monday. Image source: Getty Images.

Source Fool.com

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