Ocugen Inc Stock Price, News & Analysis

Ocugen, Inc. (NASDAQ: OCGN) has appointed Ken Inchausti as the new Head of Investor Relations & Communications. With over 25 years of experience in healthcare communications, Inchausti previously worked at Novo Nordisk, where he led corporate media relations and reputation strategy. This appointment comes as Ocugen advances its plans for COVAXIN vaccine commercialization in the U.S. and Canada, alongside the initiation of its Phase 1/2a clinical trial for OCU400. His expertise is expected to enhance Ocugen's stakeholder engagement and public health initiatives.

Ocugen announced the grant of stock options and restricted stock units (RSUs) to four new employees as part of their compensation package. The stock options total 157,450 shares with an exercise price of $6.26, reflecting the stock's closing price on the grant date, June 15, 2021. The RSUs cover 26,300 shares, and both will vest over three years. These grants were made as inducements for employment per Nasdaq rules. Ocugen focuses on gene therapies for blindness and COVID-19 vaccine development, co-developing Bharat Biotech’s COVAXIN in the U.S.

Ocugen, Inc. (NASDAQ: OCGN) announced its inclusion in the Russell 3000® Index effective June 28, 2021. This recognition places Ocugen among the largest US companies, representing 98% of the investable US equity market. The Russell indexes are vital for investment managers and institutional investors, with approximately $10.6 trillion in assets benchmarked against them. Ocugen develops gene therapies for retinal diseases and COVAXIN™ for COVID-19, showcasing its commitment to innovative biopharmaceutical solutions.

Ocugen has announced a partnership with Jubilant HollisterStier for the manufacturing of COVAXIN™ in the US and Canada. This collaboration aims to prepare for potential commercial manufacturing of the COVID-19 vaccine, enhancing its availability in North America. Senior Vice President, J.P. Gabriel, emphasized the importance of securing US-based manufacturing capability as they approach regulatory submissions to the FDA and Health Canada. COVAXIN™ boasts a vaccine efficacy of 78% overall, with 100% against severe disease in clinical trials.

Ocugen, Inc. (NASDAQ: OCGN) has appointed Michael Shine as Senior Vice President, Commercial, enhancing its leadership ahead of potential COVAXIN commercialization in the US and Canada. Shine brings nearly 35 years of experience, including successful roles at Pfizer Vaccines, where he led the $6 billion Prevnar franchise. His expertise in marketing and sales is expected to drive Ocugen's vaccine and ophthalmic product launches, contingent on regulatory approvals. The company's focus remains on gene therapies for blindness and COVID-19 vaccine development.

Ocugen (NASDAQ: OCGN) plans to pursue a Biologics License Application (BLA) for its COVID-19 vaccine candidate, COVAXIN™, upon FDA recommendation, abandoning its earlier Emergency Use Authorization (EUA) strategy. The company aims to submit additional data from ongoing clinical trials to support this application. Additionally, Ocugen has secured exclusive commercialization rights for COVAXIN™ in Canada and is seeking expedited authorization under an interim order. The vaccine has shown a 78% efficacy rate and is well-tolerated in over 6.7 million doses administered in India.

Ocugen (NASDAQ: OCGN) has secured exclusive co-development, manufacturing, and commercialization rights for COVAXIN™ in Canada, enhancing its existing rights in the U.S. This expansion underscores the company’s strategic partnership with Bharat Biotech, as they aim to submit applications for emergency use authorization in both countries. Ocugen will share profits from COVAXIN™ sales in Canada, retaining 45%. COVAXIN™ has shown a 78% overall efficacy rate and demonstrated effectiveness against multiple SARS-CoV-2 variants, with an excellent safety record.

Ocugen (NASDAQ: OCGN) announced plans to submit an Emergency Use Authorization (EUA) application for its COVID-19 vaccine, COVAXIN, to the FDA in June. Active discussions with the FDA have been ongoing since late last year, and the company expressed confidence in meeting the updated EUA criteria. COVAXIN is a traditional inactivated vaccine that has shown a 78% efficacy rate overall and is 100% effective against severe COVID-19 in Phase 3 trials. It demonstrates potential effectiveness against multiple SARS-CoV-2 variants, with a strong safety profile.

Ocugen reported promising updates regarding its COVID-19 vaccine COVAXIN and its ophthalmology pipeline. COVAXIN showed 100% efficacy against severe COVID-19 and a 78% overall efficacy in trials. The company raised $100 million through a direct stock offering, strengthening its financial position. Key talent was recruited to enhance manufacturing capabilities for COVAXIN. As of March 31, 2021, Ocugen's cash totaled $44.9 million, while R&D expenses increased to $2.9 million. A conference call is scheduled for today to discuss these results.