OCGN Stock Price Increases Over 2% Pre-Market: Why It Happened

By Amit Chowdhry ● June 22, 2021
  • The stock price of Ocugen Inc (NASDAQ: OCGN) increased by over 2% pre-market. This is why it happened.

The stock price of Ocugen Inc (NASDAQ: OCGN) increased by over 2% pre-market. Investors appear to be responding positively to a report by India-based news agency The Economic Times claiming that Bharat Biotech’s indigenous Covid-19 vaccine has shown it is 77.8% effective against Covid-19 across India.

The results from the Phase 3 clinical trials were presented before the Subject Expert Committee (SEC) under the drug regulator today. The Subject Expert Committee (SEC) reviewed Bharat Biotech’s data, and this will now be sent to the drug controller general of India for approval, according to The Economic Times’ sources.

Bharat Biotech is also going to hold a ‘pre-submission’ meeting with the WHO for the approval of its Covid-19 vaccine Covaxin on June 23.

Through an emergency approval from WHO, the company would be able to export its vaccines and enable easy international travel of Indian citizens were given Covaxin.

The union health secretary had claimed that Indian vaccines Covishield and Covaxin are both effective against the Delta variant of COVID-19, according to Mint.

Ocugen is Bharat Biotech’s US-based partner.

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