Shares of Ocugen (OCGN) surged after Monday’s open on news of it’s partner Bharat Biotech receiving approval for it’s COVID-19 vaccine, COVAXIN. Bharat shared that its version of a novel coronavirus vaccine had received emergency-use authorization (EUA).
Bharat’s Covaxin got a green light from India’s drug regulator over the weekend, a move that isn’t without some controversy. Investors should note that the EUA was granted less than two months into the firm’s Phase 3 human trials.
Vaccine stocks remain frothy
And what about Covid-19? Well, Bharat needed a U.S. partner and Ocugen stepped up. The U.S. pharma also said that the Covaxin vaccine stands out from others on the market, particularly since it targets multiple virus protein antigens.
With the pandemic entering new waves around the world, it is clear that pursuit of Covid-19 vaccines will remain a frothy investor focus for the foreseeable future. This means OCGN stock is still one to watch in the coming weeks.