Ocugen, Inc. (NASDAQ: OCGN), a biopharmaceutical company specializing in production and commercialization of gene therapies to cure eye diseases and developing a vaccine for COVID-19, announced that Research professionals at Indian Council of Medical Research (ICMR)-National Institute of Virologyfound that COVAXIN could potentially reflect high effectiveness against the Brazilian strain of SARS-CoV-2.
At last check-in premarket trading, shares of Ocugen Inc. (OCGN) were down -11.93% at $13.81. OCGN’s stock gained 23.76% to close Monday’s session at $15.68.In the past 12 months, the company’s stock has advanced 4566.67%, and in the last one week, the stock has moved up 35.29%. Furthermore, the company has a current market of $2.93 billion and its outstanding shares stood at 188.17 million.
Even if you’re not actively in crypto, you deserve to know what’s actually going on...
Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.
Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free.
- Looking For The Best Stocks To Buy For 2021? 3 Electric Vehicle Stocks To Watch
- Top 3 Cosmetics Stocks in the market
COVAXIN is being developed in collaboration with the Indian Council of Medical Research (ICMR) – National Institute of Virology (NIV). COVAXIN consists of high levels of purification and inactivated vaccine that is produced using a Vero cell manufacturing platform with a safety track record exceeding 300 million doses distributed.
The vaccines generates a strong immune response against multiple antigens and has been successful in generating memory T cell responses, for its several epitopes, depicting longevity and a fast antibody response to potential infections in the future. The published data demonstrates higher safety profile compared to available data for various other vaccines. COVAXIN can be stored at a temperature between 2-8⁰C and is packaged in multi-dose vials.
The second interim results of the Phase 3 clinical trial depicted, COVAXIN showed 78% overall efficacy and 100% in serious COVID-19 disease. In accordance to ICMR studies, Covaxin was effective in neutralizing various SARS-CoV-2 variants including (B.1.617 (India, double mutant), B.1.1.7 (United Kingdom), B.1.1.28 (Brazil P2), and heterologous strain) in an in-vitro plaque reduction neutralization assay.
In April, India’s Bharat Biotech confirmed Covaxin capacity expansion to be increased to 700 million doses per annum. First interim data announced in March depicted a clinical efficacy of 81% for prevention of COVID-19 in those without previous infection after the second dose.
COVAXIN has shown strong results in all the studies conducted to date. Furthermore, a high efficacy rate of the vaccine combined with a high safety profile has been seen beneficial for the pandemic, however, OCGN stock was declining 11.93% at last check, as the stock stabilizes.