https://investorplace.com/2024/03/why-is-ocugen-ocgn-stock-up-20-today/ ¿©±â °¡¼Å¼ ÀÐ¾î º¸¼Å¿ä.
Ocugen (NASDAQ:OCGN) stock is up on Monday as investors celebrate an update on class action lawsuit that the clinical-stage biopharmaceutical company was facing.
This lawsuit came from investors who believe the company misled them. This specifically pertains to the potential of Ocugen¡¯s Covid-19 vaccine. The major complaint has to do with the ability to obtain fast-track designation for the vaccine.
The big news here today is a U.S. court dismissing this lawsuit with prejudice. This means that investors no longer have to worry about the effects of this lawsuit on OCGN stock should the company have lost the case.
With news of the lawsuit being dismissed, shares of OCGN stock are seeing extra activity on Monday. That has it experiencing heavy trading with more than 29 million shares on the move. This is well above its daily average trading volume of about 6.9 million shares.
OCGN stock is up 19.5% as of Monday morning. Investors will note that the stock is also up 197% since the start of the year. |
|