Category: OCGN

OCGN – Where Will Ocugen Be in 1 Year?

On June 10, shares of Pennsylvania-based biopharma Ocugen (NASDAQ:OCGN) fell by an astonishing 26%. The decline came as the U.S. Food and Drug Administration (FDA) recommended the company file a Biologic License Application (BLA) for its coronavirus vaccine candidate, Covaxin (developed in partnership with India’s Bharat Biotech), instead of an Emergency Use Authorization (EUA). The agency also requested additional data supporting Covaxin’s efficacy and safety.

Ocugen is still a top-performing coronavirus stock despite the sell-off, with a return of 2,200% since last June. Aside from Covaxin, all of its product candidates are in the preclinical stage. Is now the time for investors to buy the dip?  

Doctor preparing syringe for coronavirus vaccine.

Image source: Getty Images.

The odds don’t look good

In clinical studies, Bharat Biotech’s Covaxin demonstrated 78% overall efficacy against COVID-19 and 100% efficacy against severe cases. The study mainly took place in India, where the highly contagious, highly resistant Delta variant of the disease is rampaging across the country. Therefore, its value proposition is evident. Covaxin has received regulatory clearance in over 13 countries. 

Unfortunately, Covaxin does not belong to Ocugen. The company merely licensed the distribution rights in the U.S. and Canada from Bharat Biotech. The agreement is for Ocugen to receive 45% of the profits for the vaccine’s commercialization. It also paid Bharat Biotech $15 million upfront for Canadian licensing rights.

Last month, the company told investors that it was “on track” to submit a EUA with the FDA for Covaxin by the end of June. But the regulatory agency has not just given that application a thumbs-down, it has also tasked Ocugen with conducting another clinical trial validating Covaxin’s efficacy.

There are three problems with this from an investment standpoint. First of all, the coronavirus pandemic is largely subsiding in the U.S. due to mass vaccination campaigns. Therefore, it would be very difficult for Ocugen to find people living in areas of high exposure to the virus. That’s not to mention the ethical issues around enrolling participants in the placebo cohort when safe and effective coronavirus vaccines are widely available.

Secondly, Ocugen planned to sell only 100 million doses of Covaxin in the U.S. Based on pricing assumptions, industry margins, and its deal with Bharat Biotech, that translates to an estimate of $135 million in pre-tax profits. However, it could cost up to $1 billion to conduct phase 3 clinical trials necessary for the vaccine’s full approval. Without government funding or cost-sharing programs, Ocugen will be hitting a dead end. 

Lastly, the U.S. and Canada have ordered a combined 1.2 billion doses of coronavirus vaccines, enough to vaccinate everyone in those nations multiple times over. So even if Ocugen conducts the study and succeeds, I don’t see how the company could start its BLA filings before next year, when demand for vaccines is likely to have evaporated.

The verdict

It’s looking more and more certain that Ocugen will not be able to commercialize Bharat Biotech’s coronavirus vaccine in a timely manner. For these reasons, it’s best to stay away from the biotech. One year from now, I expect Ocugen to still be seeking funding for another phase 3 trial or scrambling to file its BLA. 

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

OCGN – OCUGEN ALERT: Bragar Eagel & Squire, P.C. is Investigating Ocugen, Inc. on Behalf of Ocugen Stockholders and Encourages Investors to Contact the Firm

NEW YORK–()–Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Ocugen, Inc. (NASDAQ: OCGN) on behalf of Ocugen stockholders. Our investigation concerns whether Ocugen has violated the federal securities laws and/or engaged in other unlawful business practices.

Click here to participate in the action.

On May 26, 2021, Ocugen announced that it planned to submit to the FDA an Emergency Use Authorization (“EUA”) application for COVAXIN, a COVID-19 vaccine, in June 2021. On June 10, 2021, Ocugen announced that it “will no longer pursue an Emergency Use Authorization (EUA) for COVAXIN,” instead choosing to “pursue submission of a biologics license application (BLA) for its COVID-19 vaccine candidate, COVAXIN.” Ocugen’s Chairman and CEO stated, “Although we were close to finalizing our EUA application for submission, we received a recommendation from the FDA to pursue a BLA path,” and that “this will extend our timelines.”

Shares of Ocugen fell by more than 24% in intraday trading on the same day, based on this news.

On June 10, 2021, the Company said it would no longer pursue a EUA for Covaxin and would instead aim to file for a full U.S. approval of the shot.

On this news, the stock price plummeted and closed on June 11, 2021 at $6.69 per share, representing a 25.17% drop from the June 10, 2021 closing price of $9.31 per share.

If you purchased or otherwise acquired Ocugen shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit Attorney advertising. Prior results do not guarantee similar outcomes.

OCGN – Ocugen (OCGN) to File Coronavirus Vaccine BLA in US, Stock Tanks

Ocugen, Inc. (OCGN Free Report) announced that it will submit a biologics license application (“BLA”) for its COVID-19 vaccine candidate, Covaxin, in the United States following the FDA’s recommendation.

The company will no longer pursue an Emergency Use Authorization (“EUA”) for the vaccine candidate, and instead, will seek more formal approval for Covaxin. This might delay the launch of the vaccine in the United States.

The regulatory body recommended Ocugen to pursue a BLA submission instead of an EUA application for Covaxin and requested additional information and data on the same. The company believes that data from an additional clinical study will likely be necessary to support the BLA.

Shares of Ocugen were down 28.1% on Thursday following the announcement of the news. However, the stock has skyrocketed 265.5% so far this year compared with the industry’s rise of 0.1%.

Zacks Investment ResearchImage Source: Zacks Investment Research

Please note that Ocugen has secured exclusive rights to commercialize Covaxin in Canada and has also initiated discussions with Health Canada for the regulatory approval of the same.

We note that, in April 2021, Bharat Biotech announced encouraging data from the second interim analysis of its phase III study of Covaxin, which showed 78% overall efficacy against COVID-19 disease, 100% efficacy against severe COVID-19 disease (including hospitalization), and 70% efficacy against asymptomatic COVID-19 infection.

Covaxin is generally well tolerated and has shown a good safety profile in studies conducted till date. More than 6.7 million doses of the vaccine have been administered in India without any potential thromboembolic event being reported so far.

Ocugen entered into a definitive agreement with India-based Bharat Biotech to co-develop and commercialize the latter’s COVID-19 vaccine, Covaxin, for the U.S. market, in February 2021. Ocugen is also in discussions with BARDA regarding the U.S. government’s support of Covaxin. It is also considering evaluating Covaxin in special populations, such as children, as well as in booster doses.

Other COVID-19 vaccines that have received EUA in the United States are Moderna’s (MRNA Free Report) mRNA-1273, Pfizer/BioNTech’s (BNTX Free Report) BNT162b2 and J&J’s (JNJ Free Report) single-shot COVID-19 vaccine.

Notably, companies like Pfizer/BioNTech and Moderna have already got a head start and initiated rolling submissions for a BLA with the FDA, seeking approval/licensure of their respective COVID-19 vaccines in the United States.

Zacks Rank

Ocugen currently has a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities

In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.

Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.

Click here to download this report FREE >>

OCGN – OCGN Stock Price: 28.14% Decrease Explanation

  • The stock price of Ocugen Inc (NASDAQ: OCGN) fell by 28.14% today. This is why it happened.

The stock price of Ocugen Inc (NASDAQ: OCGN) fell by 28.14% today as it went from a previous close of $9.31 to $6.69. Investors are responding negatively to an announcement from the company that upon recommendation from the U.S. Food and Drug Administration (FDA), it will pursue submission of a biologics license application (BLA) for its COVID-19 vaccine candidate COVAXIN. And the company will no longer pursue an Emergency Use Authorization (EUA) for COVAXIN.

The FDA had provided feedback to Ocugen regarding the Master File the company had previously submitted and recommended that Ocugen pursue a BLA submission instead of an EUA application for its vaccine candidate and requested additional information and data. And Ocugen is in discussions with the FDA to understand the additional information required to support a BLA submission. Ocugen anticipates that data from an additional clinical trial will be required to support the submission.

Ocugen had recently announced that it secured exclusive rights to commercialize COVAXIN in Canada and has initiated discussions with Health Canada for regulatory approval. And the company will pursue expedited authorization for COVAXIN under the Interim Order Respecting the Importation, Sale and Advertising of Drugs for Use in Relation to COVID-19 in Canada.


“Although we were close to finalizing our EUA application for submission, we received a recommendation from the FDA to pursue a BLA path. While this will extend our timelines, we are committed to bringing COVAXIN to the US. This differentiated vaccine is a critical tool to include in our national arsenal given its potential to address the SARS-CoV-2 variants, including the delta variant, and given the unknowns about what will be needed to protect US population in the long term.”

— Dr. Shankar Musunuri, Chairman of the Board, Chief Executive Officer, and Co-founder of Ocugen

“In clinical trials to date, the emerging safety profile of COVAXIN is supportive of it being generally well tolerated with a good safety profile, with Ministry of Health and Family Welfare of Republic of India reporting no potential thromboembolic events following the administration of over 6.7 million doses of COVAXIN in that country.”

— Dr. Bruce Forrest, Acting Chief Medical Officer and member of the vaccine scientific advisory board of Ocugen

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.

OCGN – Why Ocugen Plummeted by Nearly 30% Today

What happened

Thursday morning, Ocugen (NASDAQ:OCGN) announced that it is no longer pursuing emergency use authorization (EUA) from the FDA for the Covaxin coronavirus vaccine candidate; instead it will seek more formal approval for the jab. This didn’t sit well at all with investors, who traded the stock down by more than 28%.

So what

Ocugen is following a recommendation from the FDA, which in feedback to Covaxin data urged the biotech to file for a biologics license application (BLA) instead of the EUA. The regulator also requested additional data and information on the vaccine candidate.

Child wincing as he receives a vaccination shot.

Image source: Getty Images.

In its press release on the matter, Ocugen admitted that data from a new clinical trial will likely be necessary to support a BLA submittal. 

One major difference between an EUA and full FDA approval is speed; in an emergency like the coronavirus pandemic, the regulator can quickly issue the former to a vaccine or drug given sufficient evidence of efficacy. The approval process is longer and more detailed.

Nevertheless, Ocugen signaled its determination to bring Covaxin to the American market eventually, with its CEO and co-founder Shankar Musunuri describing it as “a critical tool to include in our national arsenal.”

Now what

But Musunuri is saying that at a time when both coronavirus cases and deaths are in sharp decline throughout the U.S. So there was an understandable “missing the boat” feeling among investors Thursday, particularly considering that the vaccine tested exceedingly well in a phase 3 clinical trial earlier this year.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

OCGN – OCGN Stock Price: $10 Target By Roth Capital

  • The shares of Ocugen Inc (NASDAQ: OCGN) have received a price target of $10 by Roth Capital. These are the details.

The shares of Ocugen Inc (NASDAQ: OCGN) have received a price target of $10 by Roth Capital. And Roth Capital analyst Zegbeh Jallah is maintaining a “Buy” rating on the company shares.

Jallah assigned the $10 price target after Ocugen and Bharat Biotech announced an amendment to their existing agreement — which is going to grant Ocugen exclusive commercialization rights to Covaxin in Canada as an extension to current commercialization rights in the U.S. And Jallah noted that this is a smart move for Ocugen especially as it approaches Emergency Use Authorization application submission for Covaxin in the U.S.

Jallah believes that even though Canada has entered agreements for substantial vaccine supplies, the need for boosters as well as annual vaccinations will create a positive commercial outlook for Covaxin going forward.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.

OCGN – This New Vaccine Market Could Be Bigger for Ocugen Than the U.S.

Ocugen‘s (NASDAQ:OCGN) shares surged as much as 700% from the start of the year to a peak in February. The reason for the enthusiasm? The company signed a deal to co-commercialize Bharat Biotech’s near-to-market coronavirus vaccine in the United States. Currently, Bharat’s Covaxin is involved in phase 3 trials in India.

But Ocugen has given up some gains. In fact, its shares are down more than 40% from that February high point. Investors are concerned about how much vaccine Ocugen and Bharat actually may sell in the U.S., which has so many doses it’s actually started giving them away.

This past week, though, Ocugen announced an extension of its deal with Bharat. It now may co-commercialize Covaxin in Canada as well. Could this additional market equal a win for Ocugen? Let’s find out.

A healthcare worker vaccinates a patient.

Image source: Getty Images.

The regulatory picture

First, let’s keep in mind one crucial point. U.S. and Canadian regulators haven’t yet authorized Covaxin, so any potential success will depend on positive regulatory rulings. Ocugen has submitted a master file to the U.S. Food and Drug Administration and will request Emergency Use Authorization this month. The company said it will “simultaneously” request emergency authorization in Canada.

Canada’s vaccination rollout hasn’t been particularly smooth. The country doesn’t produce its own vaccines, so has relied on importing doses. And there it’s faced a lack of supply.

All of this seems to leave room for a latecomer. Or does it? Canada’s problem isn’t due to a lack of vaccines ordered; the country’s contracts with providers include options for as many as 400 million doses. The problem has been the shipping and delivery of doses. Right now, about 50% of the Canadian population has received at least one dose of vaccine — but only 4.6% of the population is fully vaccinated.

Ocugen could gain market share here if it’s able to make Canada a priority and deliver doses more quickly than its rivals. That could happen if Covaxin were available right away. If regulators wait to offer Covaxin authorization for a couple of months, though, Canada might no longer need extra doses. Vaccine delivery to the country has improved in recent weeks. Right now, more than 27 million doses of vaccine have been distributed in Canada (a number that reflects only two-dose vaccines). The country’s population is about 38 million.

That said, Canada has shown it is open to ordering from many suppliers, rather than sticking to only the top few. The country has ordered doses from seven companies so far. If Canadian regulators OK Covaxin, it’s possible the country would place an order for doses of it. Even if that order was for next year, it would be great news for Ocugen.

What does this mean for investors?

Canada isn’t a bigger market in terms of population — after all, the U.S. has more than 330 million residents. But Canada could represent more opportunity for Ocugen; it may be easier for the latecomer to carve out share here than in the U.S. The U.S. vaccine rollout has been rather smooth, and the country has plenty of vaccine doses. It’s easy to imagine the U.S. reordering from current suppliers Pfizer, Moderna, and Johnson & Johnson next year.

Ocugen’s decision to expand its collaboration agreement with Bharat into Canada is a smart one. Relying on only one market — the U.S. — for revenue was highly risky. Still, I’m not convinced that even both markets together are enough to make Ocugen’s move into the vaccine space highly profitable. Today’s dominant players are already bringing their vaccines to younger age groups, and say that boosters to handle variants are almost ready. To gain significant market share — in Canada or the U.S. — Ocugen will have to stand out in some way. And right now, it’s not clear how Covaxin may stand out from rival vaccines.

Ocugen shares are a favorite among high-risk, short-term investors at the moment, and with any positive news, we may see more gains. But considering the points above, and Ocugen’s 380% share-price gain since the start of the year, it’s not the best choice for a long-term portfolio right now. I prefer watching this coronavirus vaccine player from the sidelines.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

OCGN – How Risky Is Ocugen?

Ocugen (NASDAQ:OCGN) wowed investors when its stock soared as much as 763% from the start of the year to its peak in February. It’s given up some gains, but the stock has still posted a healthy 300% increase year to date. Why all the excitement? The biotech company partnered with India’s Bharat Biotech to co-market Bharat’s close-to-market COVID-19 vaccine in the U.S.

Now, Ocugen is moving a step closer to bringing that potential product — Covaxin — to people’s arms. The company plans to submit its request for emergency use authorization (EUA) to the U.S. Food and Drug Administration (FDA) in June. Knowing this, we may ask ourselves: How risky is this high-flying stock right now? Let’s find out.

A person in a suit and tie points at the word "risk."

Image source: Getty Images.

45% of vaccine profits

First, a little background. Ocugen may have surprised some when it entered the vaccine race. That’s because the company specializes in gene therapy for eye diseases. Ocugen plans on beginning its first clinical trials in that area this year. Meanwhile, the company’s collaboration with Bharat could represent an early revenue source — if the FDA authorizes Covaxin and if the U.S. orders doses. As part of the deal with Bharat, Ocugen keeps 45% of the profits.

Bharat is conducting a phase 3 trial in India, and so far, the data show Covaxin is 78% effective in the prevention of COVID-19. It’s 100% effective against severe disease.

News this past week may have worried some investors. The FDA updated its industry guidance for the issuance of EUAs. During the rest of the pandemic, the FDA “may decline to review and process further EUA requests other than those for vaccines whose developers have engaged in an ongoing manner with the agency.”

I don’t expect this to impact Ocugen. The company has been in contact with the FDA for months. And it even submitted a master file regarding Covaxin in late March.

So far, all sounds positive. But here’s my concern. And it’s a big one. It’s unclear exactly how Ocugen may carve out market share in the U.S. This is the only market where Ocugen can benefit from Covaxin sales. That means success here is crucial.

First of all, the U.S. has already purchased enough vaccine doses from earlier-to-market rivals Pfizer and Moderna to cover nearly the entire population. In fact, the government has already started donating extra doses to other countries. In this context, it seems unlikely the U.S. will order more vaccine doses for this year.

What about next year?

Of course, there’s always next year. Could Ocugen take market share at that point? Even then, it may be difficult. The Pfizer and Moderna vaccines both have shown strong efficacy. The U.S. may choose to continue ordering primarily from these leaders. For Ocugen to succeed, Covaxin probably will have to stand out in some way. Ocugen has mentioned Covaxin’s performance against variants. And Bharat plans to soon begin Covaxin trials in kids.

But here, too, Pfizer and Moderna are a step ahead. They’re working on booster candidates to address new variants. Pfizer expects to report booster data in July. And Moderna says its booster may be available by fall. Both companies also are testing their vaccines on kids and teens. The FDA recently granted Pfizer authorization for use of its vaccine in those ages 12 through 15.

So, for Covaxin to stand out against variants or as a vaccine for kids it will have to significantly beat the performance of Pfizer and Moderna vaccines. And betting on that right now is risky.

Speaking of risk, let’s get back to our original question: How risky is Ocugen? It’s possible the FDA will authorize Covaxin. And if that happens, Ocugen shares could head higher. But, as mentioned above, I’m concerned about what happens next. For Ocugen shares to maintain gains and move higher over the long term, the company must find its place in the U.S. market. That may be difficult. And that’s why I consider shares of this biotech player a very risky bet right now.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

OCGN – Take Your Ocugen Stock Profits and Run If You Haven't Already

Because the novel coronavirus pandemic has more twists and turns than the Monaco Grand Prix, my take on biotechnology firm Ocugen (NASDAQ:OCGN) stock has been admittedly all over the map.

The concept image of a vaccine passport with a needle and map.

Source: Shutterstock

Still, it’s very possible that the recent volatility in OCGN stock finally provided some much-needed clarity.

First, let’s back up for a moment. Prior to the Covid-19 catastrophe, OCGN stock was itself a disaster. Though the underlying company features a compelling business — using the latest advancements in biomedicine to address rare eye diseases — Ocugen for years suffered from a credibility problem.

It’s helpful to remind ourselves that going into 2020, you could buy OCGN stock for less than a dollar a pop. Throughout most of last year, Ocugen never gave an inkling that it was about to go on a mercurial ride.

However, a partnership with Bharat Biotech to deliver whole-virion inactivated Covid-19 vaccines quickly changed the narrative.

Out of nowhere, OCGN stock jumped into single-digit territory, then into double digits in early February of this year. As shares tumbled down from their wild peak, I noted on March 30 that OCGN could be a crisis trade that might pan out.

At the time, new strains of the SARS-CoV-2 virus threatened to sink the world back into lockdown.

While it took an initial dive, OCGN stock would find itself again in double-digit territory. But on May 3, I warned that if you’re profitable on Ocugen, now would be the time to take profits. Essentially, the U.S. has too many vaccines. There’s plenty of supply for those who want to be protected, and contrary to conspiracy theories, no one is forcing never-vaxxers to get the jab.

Therefore, yet another Covid vaccine seemed utterly superfluous. While I don’t mean to toot my horn, my cautionary take came out on a high note for OCGN stock. Since then, shares have looked very ugly.

Take the Commonsense Approach With OCGN Stock

Admittedly, what makes Ocugen intriguing for speculators right now is the terrible situation that’s afflicting India, Bharat Biotech’s home market. Clearly, a desperate need exists to inoculate the population. Further, other countries have requested doses of Bharat’s vaccine, called Covaxin. This possibly opens the door to additional opportunities for Ocugen.

Still, the point remains that Ocugen’s deal with Bharat is to “co-develop, supply, and commercialize the Indian vaccine maker’s Covid-19 vaccine Covaxin in the US market.” Therefore, it’s not entirely clear that OCGN stock will benefit from expansion into non-U.S. markets.

Nevertheless, even if it did, the advantage might be short-lived for Ocugen. Mainly, this is due to the competition. While the marshaling of resources to produce multiple solutions for Covid-19 represents the power of the human spirit against overwhelming odds, the reality is that there will be few sustained winners following this mess.

For example, Novavax (NASDAQ:NVAX) was a massive standout early in the pandemic. Through its proven subunit approach, Novavax had the potential to deliver a trusted solution (the hepatitis B vaccine is a subunit) to a leery public.

Unfortunately, it just couldn’t beat Pfizer (NYSE:PFE) and Moderna (NASDAQ:MRNA), which punched their way to the finish line first.

It’s the same narrative with Ocugen. Going with a more traditional inactivated virus approach, Ocugen has gone with a proven, trusted approach. But a track record wasn’t just the only issue here — the world needed a solution quickly. That’s where Pfizer and Moderna, which both utilized a messenger-RNA approach, enjoyed the pivotal advantage.

“[E]ven with modern fermentation equipment, reaching adequate biomass to begin manufacture of a viral vaccine takes about four to six weeks. Once underway, each growth and production cycle might take a week. An mRNA vaccine is synthesized in a matter of minutes,” said Dr. Simone Blayer, global head of chemistry, manufacturing, and control at PATH’s Center for Vaccine Innovation and Access

It’s Time to Sell Ocugen

Typically, I don’t like to make a declarative statement to buy or sell stock. I lean toward one direction or another, which helps to cut down on the hate mail, but with OCGN stock, I think it’s time to sell while you still can.

Please don’t get me wrong — I’m not speaking out of malice or ill intent. Rather, with so much competition in the space, and with mRNA vaccines having proven themselves brilliantly in the face of much scientific and public scrutiny, the case of OCGN seems rather anachronistic.

Essentially, Ocugen took the field goal instead of going for six. It may have been a smart move. But with Pfizer and Moderna taking the risk and converting, it’s only a matter of time before investors lose interest in speculative ideas like OCGN. That’s especially the case now that the storyline has become even riskier.

On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.