Despite the late entry into the development of the Covid vaccine, Ocugen Inc (NASDAQ: OCGN) finds its place in the mid-cap space with revenues of $1.87 billion.
Investors can buy this stock at $9.70 before Ocugen submits EUA (Emergency Use Application) for its Covid vaccine – Covaxin to the US FDA. The stock expects to move higher from this moment until the Food and Drug Administration (FDA) Vaccines, and Related BPAC (Biological Products Advisory Committee) meets shortly.
Develops innovative therapies to treat retinal diseases
In the previous year, as its name suggests, Ocugen engages in the discovery of innovative therapies to treat retinal diseases using its MGTP (Modifier Gene Therapy Platform). Its stock traded below $1 for almost a year.
Unveils Covaxin in the US
The company plans to introduce Covaxin in the US market soon. Bharat Biotech, an Indian biotech company, in collaboration with ICMR’s NIV (National Institute of Virology), developed Covaxin to inoculate people and provide protection against coronavirus and its variants.
Bharat Biotech already received EUA for its Covaxin in 11 nations, including India. It expects EUA in other 60 nations worldwide soon. The company also sells its other vaccines across the world.
The US already inoculated 41.2% of its population. According to several sources, the vaccination trend is slowing now.
Recent concerns about blood clots from the administration of Covid vaccines developed by Janssen create fear in people’s minds. In India, the opposition is growing against the hasty granting of EUA for covid vaccines. However, All India Peoples Science Network, the previous major critic, expects that Bharat Biotech will improve its covid vaccine production to protect people against the coronavirus.
Submits a comprehensive drug master file
The US FDA received a comprehensive drug master file from Ocugen a month back. It is also a necessity to assess the efficacy of vaccines that works against some SARS-CoV-2 variants. According to recent clinical studies, Covaxin is effective against several virulent strains like B.1.351 lineage noticed in South Africa and B.1.1.7 lineage observed in the UK.