Ocugen stock soars post top-line Covid-19 vaccine results

Ocugen, Inc. (NASDAQ; OCGN), a pharmaceutical company, recently posted positive results of its COVAXIN™(BBV152) Booster Dose, which is manufactured by its partner Bharat Biotech, an Indian pharma company. The news came in while Covid-19 and its variants were still creating a havoc, therefore, in response to this, the OCGN stock prices surged in today’s pre-market session.

The OCGN stock was up by a good 8.13% and was priced at $4.39 (up by 0.33 points) at 7:00 a.m. ET. The market capitalization stood at $808 million. However, earlier the stock had dipped significantly. Last week, the OCGN stock closed at $4.06, down by 1.69% (losing 0.07% points). But now the stock has recovered substantially in the pre-market session. The actual performance would be determined once the market opens.

Important findings from the Booster Dose Study:
  • Participants receiving a booster dose six months after second dose of COVAXIN™ saw significant increase (>10-fold across Alpha, Beta, Delta and Delta Plus variants) in neutralizing titers compared to baseline at six months.
  • Persistence of memory B and T cell immune responses at six months post second dose.
  • Pronounced SARS-CoV-2-specific T cell response to COVAXIN™ before and after the booster dose may confer durable and long-term protective efficacy.
  • No serious adverse events such as hospitalizations or deaths were reported.
  • Effectiveness of COVAXIN™ against the Omicron strain is currently being studied and will be reported shortly.
CEO’s Statement

“As the COVID-19 virus continues to evolve, so does our understanding of the efficacy of vaccines and the critical role they play in protecting people from serious disease, hospitalization and death. These booster data provide critical information about how COVAXIN™ can be used in the ongoing battle against COVID-19. We are encouraged by these results which continue to suggest that COVAXIN™ remains an important, broad-spectrum vaccine candidate with durability.”

-said Dr. Shankar Musunuri, Chairman, CEO and Co-Founder, Ocugen, Inc.
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