Ocugen, Inc. (OCGN) is a leading innovative clinical-stage biopharmaceutical company. It is primarily focused on the discovery, development, and commercialization of treatments for multiple retinal diseases or blindness and is also under the process of vaccine development for COVID-19 patients. Some of the lead product candidates of the company include OCU400, OCU410, OCU200, and COVAXIN.
The price of OCGN stock during the regular trading on December 30, 2021, was $4.83 with a significant increase of 10.27%. At last check in the premarket on December 31, 2021, the stock was further up by 1.04%.
OCGN: Events and Happenings
On December 30, 2021, OCGN reported that its collaborator Bharat Biotech reported the outcomes of clinical trials of COVID vaccine COVAXIN. The study was executed on children of 2 – 18 years age. The outcomes represented a vigorous counterbalancing antibody response and a promising safe profile on the pre-print server medRXiv. The vaccine was administered in two doses 28-days apart from each other. The outcomes depicted more than a 93% drop in severe conditions. The company had already submitted its application for the status of Emergency Use Authorization on November 5.
OCGN: CEO Comments
On this auspicious occasion, Shankar Musunuri, CEO of OCGN said that the above-mentioned data is the first positive vaccine data in children. He further added that the outcomes represented that the vaccine administered in two-doses delivered a robust immune response in children.
On December 20, 2021, OCGN reported that the compensation committee of BoD approved to acquire a sum of 6,750 shares. The shares belong to its common stock and restricted stock units and cover a sum of 1,150 shares of common stock. The stock options and RSUs were granted as of December 16, in accordance with Nasdaq Listing Rule 5635(c)(4).
On December 15, 2021, OCGN reported that data studying immune response was published on the preprint server medRvix. The data was taken after two doses of COVAXIN, from a third-party trial. The study confirmed that the vaccine showed a sharp immune memory versus the spike and nucleoproteins of the virus.
OCGN: Key Financials
On November 9, 2021, OCGN reported third-quarter 2021 financial results that ended September 30, 2021. Some of the key updates are mentioned below
Net Loss per Share
Basic and diluted net loss per share was reported to be $10.7 million or $0.05 per share for Q3 2021 as compared to $10.4 million or $0.07 per share for the same period the prior year.
Assets
The total assets of the company reported for Q3 2021 were $113 million as compared to the same period of 2020 when the assets were $19 million.
Conclusion
OCGN reported a 23% decline in the stock price as compared to the past month. The current market conditions are favoring the company’s stock as the price of the stock surged in the premarket. The incline was basically the outcome of positive results of the vaccine data in children. The analysts are expecting the company’s stock to skyrocket further in the coming days as a result of this announcement.
