A U.S. biopharmaceutical company announced that it is teaming up with India’s Bharat Biotech to co-develop Bharat’s COVID-19 vaccine candidate, Covaxin, for the US market. The timing of this announcement couldn’t have been more optimal for the company as cases are soaring across the country.
Ocugen Inc. (NASDAQ:OCGN) is a clinical-stage biopharmaceutical company. It is focused on discovering, developing and commercializing a pipeline of innovative therapies that address rare and underserved eye diseases. Ocugen offers a diversified ophthalmology portfolio that includes novel gene therapies, biologics, and small molecules and targets a broad range of high-need retinal and ocular surface diseases. Its product candidate includes OCU200 and OCU300 to treat diabetic macular edema (DME), diabetic retinopathy (DR) and wet age-related macular degeneration (AMD).
Traders seem to be excited on the news as shares traded up to $0.5688/share (+93.4%) at the session high. This strong move broke the stock out of the trading range it has been in for months on much higher than average volume.
