🔴 Ocugen is trading 5.2% down today on profit-taking and broader biotech sector weakness

Ocugen is trading at $1.18 (5.2% down) today as investors take profits following a recent rally sparked by FDA RMAT designation for its OCU410 gene therapy.

• Today's pullback aligns with a broader risk-off sentiment in the biotech sector, with the XBI and major indices also under pressure.
• The decline is viewed as a consolidation of gains rather than a reversal of the positive catalyst provided by the FDA's designation for its geographic atrophy treatment.