Ocugen Inc Stock Price, News & Analysis

Ocugen, Inc. (NASDAQ: OCGN), a biopharmaceutical firm, announced it will host a conference call on May 7, 2021, at 8:30 a.m. ET to discuss first-quarter 2021 financial results and provide a business update. A pre-market earnings announcement will precede the call. The company focuses on gene therapies for blindness and co-developing Bharat Biotech's COVAXIN™ COVID-19 vaccine for the U.S. market. Investors can access the call via dial-in or webcast, which will be archived for 45 days.

Ocugen (NASDAQ: OCGN) announced promising results for its COVID-19 vaccine candidate, COVAXIN. A study by the Indian Council of Medical Research revealed COVAXIN's efficacy against multiple SARS-CoV-2 variants, including the Brazil variant (B.1.128.2) and the double mutant variant (B.1.617). COVAXIN demonstrated 78% overall efficacy and 100% efficacy against severe COVID-19. The company is preparing an Emergency Use Authorization application with the FDA and highlighted the vaccine's strong immune response and safety profile.

Ocugen, Inc. (Nasdaq: OCGN) has completed a registered direct offering, selling 10 million shares at $10 per share, raising approximately $100 million before expenses. The offering, facilitated by H.C. Wainwright & Co., aims to fund general corporate expenses and working capital. The shares were registered under an automatic shelf registration statement. This strategic move positions Ocugen to further its mission in gene therapies for blindness and COVID-19 vaccine development, highlighting its commitment to innovation in biopharmaceuticals.

Ocugen announced a registered direct offering of 10 million shares of common stock at $10 per share, aiming for $100 million in gross proceeds. The offering, managed by H.C. Wainwright & Co., is expected to close around April 27, 2021. Ocugen plans to use the funds for general corporate purposes, capital expenditures, and working capital. The shares will be offered under an effective shelf registration statement filed with the SEC.

Ocugen (NASDAQ: OCGN) announced promising results from Bharat Biotech's Phase 3 trial of COVAXIN, indicating a vaccine efficacy of 78% against COVID-19 after two doses. Notably, it showcased 100% efficacy against severe COVID-19 cases and 70% efficacy against asymptomatic infections. The trial involved 25,800 participants, with recent data reflecting 127 symptomatic cases leading to these positive outcomes. COVAXIN has already been administered to millions in India, underlining its critical role in pandemic control.

Ocugen (NASDAQ: OCGN) announced the appointment of John Paul (J.P.) Gabriel as Senior Vice President of Manufacturing and Supply Chain. With over 25 years of experience, Gabriel has held key roles in leading biopharmaceutical companies, including Sanofi Pasteur and Pfizer Vaccines. His expertise will be vital in facilitating the U.S. manufacturing of COVAXIN, a COVID-19 vaccine candidate co-developed by Ocugen. Gabriel is expected to contribute significantly to the technology transfer from Bharat Biotech, enhancing Ocugen's capabilities in the vaccine sector.

Ocugen (NASDAQ: OCGN) announced its participation in a virtual Fireside Chat on March 31, 2021, with Cantor Fitzgerald. CEO Dr. Shankar Musunuri will discuss COVAXIN, a COVID-19 vaccine developed in collaboration with Bharat Biotech, highlighting safety and efficacy data, differences from mRNA vaccines, and pandemic conditions. The presentation aims to identify opportunities for COVAXIN in the U.S., where Ocugen expects to earn 45% of profits from sales.

Ocugen reports a productive year in 2020 with financial results indicating a net loss per share of $0.31, improving from a loss of $1.46 in 2019. The company has made significant strides in developing its COVID-19 vaccine candidate, COVAXIN™, which demonstrated 81% efficacy in Phase 3 trials. Ocugen is pursuing Emergency Use Authorization in the U.S. and has entered a co-development agreement with Bharat Biotech. Additionally, the EC granted orphan medicinal product designation for OCU400, signaling potential in treating retinal diseases. Cash reserves stand at approximately $46.6 million as of February 2021.

Ocugen has announced a conference call to discuss its financial results for 2020 on March 18, 2021, at 8:30 a.m. ET. The biopharmaceutical company focuses on gene therapies to treat blindness and is co-developing Bharat Biotech's COVAXIN for COVID-19 in the U.S. The pre-market earnings announcement will precede the call. Investors can participate via dial-in or webcast, accessible on Ocugen's website for 45 days post-call. This event highlights Ocugen's ongoing commitment to advancing its product candidates and financial transparency.