The stock of Ocugen, Inc. (OCGN) gained in the current market after the company announced in a press release about its results for the COVAXIN, a booster shot for the Covid-19. The stock of Ocugen, Inc. (OCGN) was valued at around $4.30 in the current market, gaining more than 3.49% from the previously closed value. At the end of the last trading session, the stock closed at $4.16. The volume of the stock traded in the last trading session was around 14.23 million shares.
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Reason for the OCGN stock gain
Ocugen, Inc. (OCGN) announced today in a press release about results from a study on sera subjects who received a booster shot of vaccine COVAXIN™, six months after getting the first two-dose series of COVAXIN™. The results showed that the booster shot COVAXIN neutralized the Omicron and all variants of concern. Earlier studies showed the neutralizing potential of COVAXIN™ against all variants including Alpha, Beta, Delta, etc.
The booster dose of the COVAXIN™ showed strong neutralizing antibody responses against Delta as well as Omicron variants. The neutralization of the serum sample received of the Delta variant was 100%. While the neutralization of the serum sample received of Omicron variant was more than 90%.
The data shows that in the longer run, the existing vaccines may become ineffective in such conditions; COVAXIN seems to be a promising candidate in the situation of a pandemic.
Effect on the stock
The news of the COVAXIN by Ocugen, Inc. (OCGN) resulted in a strong start in the regular trading session. The COVAXIN after getting approved by FDA will have a strong effect on the stock of the company. Investors are investing in its stock before the authorization in the hopes of huge capital gain in the future.
Conclusion
Ocugen’s COVAXIN could be a game-changer. Its results are very promising and showed maximum neutralization of antibodies in the patients of all variants including Omicron. The vaccine will bring huge revenue once it gets approved by FDA.
