A week after Bharat Biotech announced Early last week, itis set to enter a partnership with Ocugen to bring Covid-19 vaccines to the U.S. market, Ocugen (NASDAQ: OCGN) surged more than 60% in an extended session on Friday.
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Recent History of the Stock
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In light of OCGN’s history, we will consider various trends that could affect the company. During the past five business days, the firm’s shares rose 196.61% percent. During the last thirty-day period, the stock grew 101.1%. In the previous quarter, the stock climbed by 1749.89% at some point. The overall output gained 881.13% within the closing six-month period, while the stock output increased 1039.08%. From the beginning of the calendar year, the company has shown a positive return of 186.89%.
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Announcement Highlights
According to Phase II clinical trial findings from last month, COVAXIN could also be effective against the U.K. variant of the Covid-19 vaccine.
Unlike mRNA vaccines already on the market, this vaccine can also be stored at room temperature.
It was first announced in late December, but the specifics weren’t revealed publicly until last week. Ocugen will be responsible for the development, regulatory, and commercialization of the vaccine in the U.S. Under the agreement, OCGN will retain 45% of U.S. profits as compensation for these services.
Stocks of Ocugen went up and down last week after the company revealed details of its executive agreement.
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Insiders Activity
Ocugen Inc. (OCGN) reported a 0.70% increase in insider transactions over the last six months. Insider ownership is 13.57% of all company shares. The insiders at Ocugen Inc. now hold over 13.12% of the total company stock after these transactions.
