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After surging nearly 24% yesterday, OCGN dipped 4% in premarket trading

Tiger Newspress2021-05-04

(May 4) After surging nearly 24% yesterday, OCGN dipped 4% in premarket trading.

What happened

Shares of Ocugen(NASDAQ:OCGN)surged 23.8% on Monday after thebiotechnologycompany released promising data from a study of Covaxin, the COVID-19 vaccine candidate it hopes to bring to the U.S. market.

So what

Researchers at the Indian Council of Medical Research (ICMR) - National Institute of Virology believe Covaxin could protect against multiple coronavirus strains. Covaxin appeared to be effective against a variant from Brazil known as B.1.128.2. A previous study indicated that Covaxin could also protect against variants from the U.K. and India.

"Covaxin continues to show strong results in all the studies conducted to date," Ocugen co-founder and CEO Dr. Shankar Musunuri said in a press release. "We continue to believe this vaccine is a critical tool to include in our national arsenal to fight this pandemic."

Now what

Musunuri said Ocugen submitted a comprehensive drug master file to the U.S. Food and Drug Administration (FDA). The company is also preparing its application for an Emergency Use Authorization. Ocugen's agreement with its drug development partner, India-based Bharat Biotech, gives it a 45% share of any profits from the sale of Covaxin in the U.S., should it gain regulatory authorization.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment28

  • joyciology
    ·2021-05-07
     Comment 
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  • TonyPhaLLeN
    ·2021-05-06
    Oh well
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  • Turtlebizkit
    ·2021-05-05
    [Facepalm] 
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  • 377tkr
    ·2021-05-05
    So different vaccines to combat different strains?Different target,no ending?
    Reply
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  • FlexK
    ·2021-05-04
    Dropping down trend
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  • BlessedCyrus
    ·2021-05-04
    Will US approve giving that now they have sufficient vaccine from Pfizer and Monderna? 
    Reply
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  • BL9626
    ·2021-05-04
    ?
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  • MaggieFann
    ·2021-05-04
    bullish
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  • nehhmind
    ·2021-05-04
    C
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  • Qaal
    ·2021-05-04
    Easy hold and moon. 
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  • WokeMan123
    ·2021-05-04
    Help comment and like please
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  • WokeMan123
    ·2021-05-04
    Hihi
    Reply
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  • Nivlek
    ·2021-05-04
    I suggest to keep a look out. Look out for good entry and trade short term.
    Reply
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  • Crod
    ·2021-05-04
    ??
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  • Fartyclown
    ·2021-05-04
    Meh
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  • Yangie
    ·2021-05-04
    To e moon!
    Reply
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  • Yangie
    ·2021-05-04
    Let it drop abit more than buy 
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  • KHYAP
    ·2021-05-04
    Dip dip
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  • JiaocyTi
    ·2021-05-04
    Adjust is normal but trend seems to be good since vol is still there?
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  • dripdd
    ·2021-05-04
    still can enter?
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