Why Ocugen Stock Is Tanking Today

Shares of Ocugen (NASDAQ: OCGN) were tanking by 12.7% as of 11:16 a.m. EDT on Friday after falling as much as 20.6% earlier in the day. Instead, the bigger issue was probably that the company still hasn't made tangible progress toward securing U.S. Emergency Use Authorization (EUA) for COVID-19 vaccine Covaxin. Ocugen stated that it's "currently in discussions" with the Food and Drug Administration about Covaxin.