Ocugen Shares Gain After Its Partner's COVID-19 Vaccine Shows Effectiveness Against Multiple Variants
- Ocugen Inc (NASDAQ: OCGN) has announced that in a new study, COVAXIN demonstrated potential effectiveness against the Brazil variant of SARS-CoV-2, B.1.128.2.
- The study was conducted at the Indian Council of Medical Research (ICMR)-National Institute of Virology.
- Ocugen is developing COVAXIN, Bharat Biotech's COVID-19 vaccine candidate, for the U.S. market.
- In the recently shared second interim results of the Phase 3 trial, Covaxin demonstrated 78% overall efficacy and 100% in severe COVID-19 disease (including hospitalization).
- In the ICMR studies, Covaxin-vaccinated sera effectively neutralized several SARS-CoV-2 variants (B.1.617 (India, double mutant), B.1.1.7 (United Kingdom), B.1.1.28 (Brazil P2), and heterologous strain) in an in-vitro plaque reduction neutralization assay.
- As previously disclosed, a study conducted by ICMR also suggested that Covaxin was effective against the U.K. variant, B.1.1.7, as well as the Indian double mutant variant, B.1.617.
- Last month, India's Bharat Biotech announced Covaxin capacity expansion to reach over 700 million doses per year.
- First interim data announced in March demonstrated clinical efficacy of 81% in preventing COVID-19 in those without prior infection after the second dose.
- Price Action: OCGN shares are up 12.9% at $14.29 in the premarket session on the last check Monday.
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