Today, shareholders in Ocugen (NASDAQ:OCGN) and OCGN stock are seeing gains of approximately 3%. This has been a hot stock of late, and has garnered a lot of attention, for good reason.
Indeed, the company’s Indian partner Bharat Biotech has done a great job of rolling out its vaccine in India. Vaccine shortages in India, and the recent removal of “clinical trial mode” language from the vaccine already authorized for emergency use have been big catalysts for this stock.
Accordingly, the recent move by Bharat to increase its vaccine production has provided investors with yet another catalyst. The hope is that U.S. regulators will approve this vaccine. Ocugen, Bharat’s U.S. commercial partner, could benefit greatly from such a move. And investors are banking on this.
However, today, there’s some additional news investors are paying attention to. Let’s dive into what this news is, and why Ocugen stock is moving today.
Leadership Addition Providing Momentum for OCGN Stock
Today, Ocugen announced the addition of John Paul Gabriel to the company’s executive team.
Mr. Gabriel will take on the senior vice president (SVP) role for manufacturing and supply chain. The move comes as the company continues to ramp up its production, and Mr. Gabriel’s resume appears to have struck a chord with investors.
Mr. Gabriel was quoted in the press release saying, “Bringing COVAXIN to the US market will be an important addition to our national arsenal of vaccines against COVID-19.” Indeed, that’s music to the ears of OCGN shareholders.
Accordingly, it appears there’s newfound excitement about Ocugen’s prospects in the U.S. This is the key catalyst most investors have their eye on today, so today’s rise appears to be warranted by the market.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.