What's Happening With Ocugen?
Ocugen (OCGN) stock popped on Monday after the company said COVAXIN, a COVID-19 vaccine that it is contracted to develop with Indian biotechnology firm Bharat Biotech International Ltd, proves effective against the Brazilian variant of Covid-19. The company is trading higher by 23.68% to $15.65 a share on Monday.
“We are pleased to see the results of this study as it demonstrates the potential effectiveness of COVAXIN against multiple variants, further strengthening our belief that this vaccine can potentially eliminate the possibility of mutant virus escape,” said Dr. Satish Chandran, chair of the vaccine scientific advisory board of Ocugen
What Does This Mean For Ocugen?
Ocugen is developing COVAXIN for use in the United States. In the recently shared second interim results of Phase 3 clinical trial, COVAXIN demonstrated 78% overall efficacy and 100% in severe COVID-19, including hospitalization.
“COVAXIN continues to show strong results in all the studies conducted to date. We continue to believe this vaccine is a critical tool to include in our national arsenal to fight this pandemic. The Ocugen team submitted a comprehensive drug master file with the FDA and is currently diligently preparing the EUA application,” said Dr. Shankar Musunuri, Chairman of the Board, Chief Executive Officer, and Co-founder of Ocugen.
Ocugen, Inc., a clinical-stage biopharmaceutical company, focuses on the developing gene therapies to cure blindness diseases. The company's pipeline product includes OCU400, a novel gene therapy product candidate restoring retinal integrity and function across a range of genetically diverse inherited retinal diseases, such as retinitis pigmentosa and leber congenital amaurosis; OCU410, gene therapy candidate for the treatment of dry age-related macular degeneration (AMD); and OCU200, a novel fusion protein that is in preclinical development stage for the treatment of diabetic macular edema, diabetic retinopathy, and wet AMD.
OCGN has a Long-Term Technical Rank of 99. Find out what this means to you and get the rest of the rankings on OCGN!
Ocugen Inc 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 offers a diversified ophthalmology portfolio that includes novel gene therapies, biologics, and small molecules and targets a broad range of high-need retinal and ocular surface diseases. Its product candidate includes OCU200 and OCU300 to treat diabetic macular edema (DME), diabetic retinopathy (DR) and wet age-related macular degeneration (AMD).
