- The stock price of Ocugen Inc (NASDAQ: OCGN) significantly increased during intraday trading. This is why it happened.
The stock price of Ocugen Inc (NASDAQ: OCGN) significantly increased during intraday trading. Investors are responding positively to reports that The World Health Organization (WHO) will likely grant approval for an emergency use listing (EUL) for Covaxin, a COVID-19 vaccine manufactured in India.
Covaxin is being manufactured by Bharat Biotech and the Indian Council of Medical Research (ICMR). And they have been looking for approval since July.
“All documents required for EUL of Covaxin have been submitted to WHO as of July 9. The review process has now commenced with the expectation that we will receive EUL from WHO at the earliest,” said Dr Krishna Ella, chairman and managing director of Bharat Biotech in a tweet.
Covaxin is known as being 77.8% effective against symptomatic Covid-19 cases based on the final phase 3 trials. And it is 63% effective against asymptomatic cases. Plus it is 65% effective against the Delta variant
Ocugen is partnered with Bharat Biotech by co-developing the COVAXIN vaccine candidate for COVID-19 in the U.S. and Canadian markets.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.