Why Ocugen Shares Are Falling

Ocugen Inc (NASDAQ:OCGN) shares are trading lower by 19.6% at $3.40 Wednesday morning after the company announced pricing of a $53.5 million public offering of common stock.

Ocugen shares were otherwise rising during Tuesday's trading session after company announced the FDA lifted its clinical hold on the company's COVID-19 vaccine study in the US.

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Ocugen is a clinical-stage biopharmaceutical company. It is focused on discovering, developing and commercializing a pipeline of innovative therapies that address rare and underserved eye diseases.

Ocugen has a 52-week high of $17.65 and a 52-week low of $2.87.