The past 18 months have been a roller coaster for Ocugen (NASDAQ: OCGN). Shares of the biotech company skyrocketed in early 2021 after it announced an agreement with India-based Bharat Biotech. The deal stipulated that Ocugen would hold the right to commercialize the Covaxin coronavirus vaccine, which was originally developed by Bharat Biotech, in the U.S. and Canada.
With me today are Ocugen's chairman and CEO and co-founder, Dr. Shankar Musunuri, who will provide a business update; and our chief accounting officer and senior vice president of finance, Jessica Crespo, who will provide a financial update. Earlier this morning, we issued a press release, including a business update and first-quarter financial results for 2022.
Ocugen (OCGN) delivered earnings and revenue surprises of -280% and 100%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?