Ocugen stock soars 201% following direct offering deal

Chester County biopharmaceutical company Ocugen's stock closed up nearly 201% Monday after it announced plans for a $23 million direct stock offering. Ocugen (NASDAQ: OCGN) — which last week finalized a deal with Bharat Biotech of India to develop its Covid-19 vaccine Covaxin for use in the United States — said it has entered into definitive agreements with three unnamed "healthcare-focused institutional investors" for the sale of 3 million shares of common stock at $7.65 per share. The offering…