Why Ocugen Stock Zoomed 12% Higher Today
On Monday, investors clearly saw excellent value in the stock of Ocugen (NASDAQ: OCGN), a biotech that concentrates on treatments for eye disorders. They traded the company's shares up by more than 12%, on the back of a fresh licensing agreement signed with a peer in Asia. That 12% absolutely trounced the 0.5% rise of the S&P 500 index today.
Ocugen announced that it has signed a licensing deal with Kwangdong Pharmaceutical in South Korea. Under the terms of the arrangement, Kwangdong will own the exclusive rights throughout South Korea for OCU400, an investigational drug targeting retinitis pigmentosa (RP). This is a disorder of the retina that causes progressive loss of vision.
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Source Fool.com
