OCGN - 1 Stock That More Than Doubled This Year That I Wouldn't Touch With a 10-Foot Pole
2024-05-24 08:10:00 ET
Small biotech companies can be explosive. Massive gains above 100% in relatively short periods aren't that rare. That's what happened to Ocugen (NASDAQ: OCGN) this year. The company's shares are up 229% since January (as of this writing). As per usual, Ocugen owes this recent run to meaningful clinical progress.
However, despite recent developments, the biotech remains far too risky for most investors. Here is why Ocugen's shares aren't worth the trouble right now.
Some will remember Ocugen for its failed attempt to become a major player in the COVID-19 vaccine market. The biotech is turning a new leaf, though, and it is pushing several candidates through their later developmental stages. The lead asset in Ocugen's portfolio is OCU400, a potential retinitis pigmentosa (RP) therapy. This group of rare eye-related genetic diseases erodes patients' visions, eventually causing blindness, or at least highly compromised sight.
For further details see:
1 Stock That More Than Doubled This Year That I Wouldn't Touch With a 10-Foot Pole