Why the price has risen significantly today

  • Ocugen, Inc. (NASDAQ: OCGN) stock price rose 28.03% after hours today. That’s why it happened.

The share price of Ocugen, Inc. (NASDAQ: OCGN) – a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of new treatments and vaccines – rose 28.03% today . Investors react positively to Ocugen by announcing that the United States Food and Drug Administration (FDA) has lifted its clinical hold on the company’s investigational new drug (IND) application to evaluate the COVID-19 vaccine candidate BBV152, known as COVAXIN outside the United States.

COVAXIN is an investigational whole-virion inactivated COVID-19 vaccine candidate that uses the same vero cell manufacturing platform that has been used in polio vaccine production for decades.

KEY QUOTE:

“We are excited to be able to advance our clinical program for COVAXIN™, which we hope will bring us closer to delivering an alternative vaccine against COVID-19. We strongly believe that managing this pandemic requires more of a vaccine approach, so we are encouraged that we can continue to develop our vaccine candidate. »

— Dr. Shankar Musunuri, Chairman of the Board, CEO and Co-Founder of Ocugen

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.

Eleanor C. William