On that note, Ocugen (NASDAQ: OCGN) stock is down by more than 65% this year as the small biotech has struggled to commercialize a coronavirus vaccine. To remedy that issue, it's licensing a coronavirus vaccine called Covaxin from Bharat Biotech, an Indian pharmaceutical business. While it's already approved in India, the chances of Ocugen successfully commercializing Covaxin in the U.S. remain a question mark.
Vaxxinity missed out on Operation Warp Speed and the first round of COVID-19 vaccines, but CEO Mei Mei Hu is focused on the second generation and ongoing global needs.
Novavax missed Wall Street expectations but remains optimistic about the fourth quarter and 2023.