Home Analyst Ratings Ocugen Inc. (NASDAQ:OCGN) stock plunged in the premarket trading session; here’s why

Ocugen Inc. (NASDAQ:OCGN) stock plunged in the premarket trading session; here’s why

At last check Ocugen Inc. (OCGN) stock had plunged by-11.92% to $9.61 in premarket trading session. OCGN stock previously closed at $10.91 losing -12.79%. The OCGN stock volume traded 95.97 million shares. In the past week, OCGN stock shed -2.68%. In the past three and six months, the OCGN stock gained 288.26% and 3864.39% respectively.

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How Ocugen’s Covaxin is giving competition to Pfizer and Moderna

On 22nd April 2021, announced that Bharat Biotech that is the co-development partner had made progress in a late-stage investigation of COVAXIN. COVAXIN is an vaccine being developed for COVID-19

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The investigation of COVAXIN was in its stage III and the second interval examination exhibited a positive consequence of 78% viability for COVID-19 in mild, moderate serious COVID-19 indications and variations while the investigation likewise guarantees that in the extreme instances of COVID-19, COVAXIN showed 100% response. The examination likewise had a subgroup of members for RT-PCR test and tracked down that the viability against asymptomatic COVID-19 disease was 70%.

How effective is Covaxin?

Ocugen has stated recently that Covaxin neutralizes the Brazil Variant, the U.K. Variation, and the double mutant in India variant in a research study. Researchers at the Indian Council of Medical Research performed in vitro tests utilizing sera from Covaxin-inoculated people. This is plainly significant information – particularly thinking about that new strains have made progress all throughout the planet.

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India is at present immunizing with Covaxin; Bharat said it’s given the vaccine to a few million individuals there. The nation conceded the immunization crisis approval prior in the year – even before Bharat procured stage 3 outcomes. The most recent stage 3 information show the antibody is 78% effective after the subsequent dose.

Pfizer and Moderna are effective against the UK and South African strains and are further investigating booster shots to increase immunity and be broadly administered against new variants. While Moderna is waiting on data for the Indian double mutant variant, Pfizer’s partner BioNTech claims that they are confident Pfizer vaccine can handle the Indian variant.

Can Ocugen Inc. knock out its competitors in the big league?

While the Ocugen shares have rallied higher year to date as compared to performance of Pfizer and Moderna, we need to first grasp how COVID vaccines work. One type of vaccines uses the mRNA technology which triggers the body to make a viral protein against which the immunity is built while the second and more traditional form of vaccine is using the dead or weakened cells of the virus to stimulate immune response.

mRNA vaccines used by Pfizer and Moderna can be boosted again and again to enhance the immunity against new variants and strains however the traditional method used by Covaxin is a slower process. This can give Ocugen’s competitors an edge in the long term if COVID-19 virus becomes more and more complicated due to emergence of new variants- making mRNA based vaccine more adaptable and coming on top.

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About Ocugen Inc.

Ocugen Inc. is a biopharmaceutical company that is focused on the designing, developing, and commercializing of innovative therapies that aim to target the unmet needs of patients with diseases.  The transformative therapies that the company designs are gene therapies that specifically developed for targeting blindness diseases and restoration of sight. Ocugen Inc. uses proprietary modifier gene therapy platform which has become a breakthrough in treating multiple retinal diseases with one drug. Furthermore, OCGN stock has novel therapies for the treatment of age-related macular degeneration (AMD), diabetic reinopathy and diabetic macular edema.

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