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Ocugen Inc. (NASDAQ: OCGN) stock gains during current trading. Why is it so?

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Ocugen Inc. (NASDAQ: OCGN) stock soars by 20.21% at last check in the current market trading. Ocugen, Inc. is a biopharmaceutical company specializing in the discovery, development, and commercialization of gene therapy to treat blindness and the development of a COVID-19 vaccine.

What has happened?

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COVAXIN demonstrated possible efficacy against the Brazil form of SARS-CoV-2, B.1.128.2, according to a recent report published by the Indian Council of Medical Research (ICMR)-National Institute of Virology. COVAXIN was also shown to be potent against the UK variant, B.1.1.7, as well as the Indian double mutant variant, B.1.617, according to an analysis performed by the ICMR. It’s worth noting that the Brazilian version, B1.128.2, has the same E484K mutation as the New York variant.

In an in-vitro plaque elimination neutralization assay, COVAXIN-vaccinated sera successfully neutralized many SARS-CoV-2 variants (B.1.617 (India, double mutant), B.1.1.7 (United Kingdom), B.1.1.28 (Brazil P2), and heterologous strain) in the ICMR trials. COVAXIN vaccine seems to be selective against several SARS-CoV-2 strains, according to these reports. COVAXIN, Bharat Biotech’s COVID-19 vaccine candidate, is being developed by Ocugen for the US market. COVAXIN showed 78 percent overall effectiveness and 100 percent in serious COVID-19 disease in the Phase 3 clinical trial’s second interim findings, which were recently published which also includes the  hospitalization.

COVAXIN has been shown to elicit memory T cell responses for its various epitopes, signaling durability and a fast antibody response to subsequent infections, in addition to producing robust immune responses against multiple antigens.

Dr. Shankar Musunuri Chief Executive Officer, and Co-founder of Ocugen stated:

COVAXIN continues to provide positive effects in all of the trials that have been performed to date. Ocugen continues to believe that this vaccine should be part of OCGN’s national arsenal in the fight against the pandemic. The Ocugen team has sent a detailed drug master file to the FDA and is working hard on the EUA application right now.

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