Ocugen (NASDAQ:OCGN) is in the red today, but investors should still watch the biotech firm closely. That is because news from its Indian partner and some social media speculation are heating up the bull case for OCGN stock on Monday. So what do you need to know now?
The first part of the story today comes from India, where Ocugen partner Bharat Biotech is rolling out its COVAXIN Covid-19 vaccine. Reports of dose shortages and side effect concerns are making headlines, especially with controversy surrounding the AstraZeneca (NASDAQ:AZN) candidate. Marketed in India as Covishield, reports of blood clots associated with the vaccine have complicated the rollout.
Bharat Biotech may also face side effect investigation, but it is looking to leverage its vaccine to address shortages. A new report says the company will up its monthly production from 5 million doses to 12 million doses by July. To do so, it will start bulk production at a facility in Bengaluru. This comes after a Bharat official said the company received the necessary regulatory licenses.
This increased production capacity appears to be exciting investors on Monday, especially as OCGN stock fans continue to root on COVAXIN.
OCGN Stock on Covid-19 Vaccine Watch
So what else do investors need to know right now?
Essentially, Ocugen remains in limbo, waiting for news from U.S. regulators. The hope is that the commercial partner of Bharat Biotech will profit from helping deliver COVAXIN doses in the United States. While many investors remain hopeful that such a situation will unfold, a wait-and-see game is at play. COVAXIN is still in late-stage clinical trials, and those Phase 3 results are also in high demand. Investors cheered on interim data from those trials in early March.
That is where some of the social media speculation comes into the picture. Ocugen lists a Needham Healthcare Conference event for Thursday, April 15. There, investors are hopeful the company will share updates on Bharat Biotech and its COVAXIN.
However, the topic of this conference remains speculative. Be sure to understand all of the risks before making a move.
On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Sarah Smith is a Web Content Producer with InvestorPlace.com.