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Thursday, March 23, 2023

Ocugen (NASDAQ: OCGN) Announces Partner’s Vaccine Shows 93.4% Efficacy Against COVID19

Ocugen, Inc. (NASDAQ: OCGN) disclosed that its partner Bharat Biotech has revealed the results of its Phase 3 study of COVAXIN. The firm disclosed that COVAXIN has confirmed a vaccine efficacy in mild, moderate, and severe COVID-19 disease of 77.8% with efficacy against severe COVID-19 disease alone of 93.4%.

The Phase 3 clinical study of Bharat Biotech registered 25,798 participants across 25 sites and between 18-98 years of age in India. It involves 2,750 over the age of 60 and 7,065 with comorbidities. The primary outcome of Phase 3 clinical trial is based on the first instance of PCR-confirmed symptomatic COVID-19 with beginning at least 14 days after the second study vaccination in serologically negative (to SARS-CoV-2) adult members at baseline.

Shares of Ocugen Inc plunged 6.90% as it lost -0.54 during the trading session of Friday. In the past 52-weeks of a trading session, the share of the firm went up to $0.19 and $18.77 during the last 52-weeks of low and high ranges, respectively. The share of the firm has surged 3840.54% from its 52-week low and plunged -61.16% from its 52-week high. Ocugen Inc has a total market capitalization of $1.41 billion at the time of writing.

Furthermore, in the Phase 3 study which is being carried out by Bharat Biotech, dependent on vaccination with COVAXIN attained greater protection against emerging delta and beta variants than those who had earlier natural infections. Results disclosed an efficacy rate of 65.2%. Additionally, Ocugen recently disclosed that it will seek the submission of a Biologics License Application (BLA) for its COVID-19 vaccine candidate, COVAXIN in the US and has commenced discussions with Health Canada for regulatory authorization.

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