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Dec. 30, 2021, 10:20 a.m. EST

Ocugen's stock bounces after 'positive' results from COVID-19 vaccine candidate in children as young as 2 years old

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By Tomi Kilgore

Shares of Ocugen Inc. /zigman2/quotes/208160861/composite OCGN -0.45% surged 6.4% in morning trading Thursday, to bounce off a near 11-month low, after the biopharmaceutical company said its partner, Bharat Biotech, reported positive results from a trial of its COVID-19 vaccine candidate. In a Phase 2/3 trial in India, the company said Covaxin demonstrated in children 2-to-18 years old a "robust" neutralizing antibody response and "favorable" safety profile on the pre-print server. And when using a two-dose regimen given 28-days apart showed a greater than 93% reduction in severe disease, similar to data from a previous Phase 3 study in adults. "These data represent the first positive vaccine data in children as young as two years of age and come at an important time as COVID-19 infections are seeing a spike across the globe," said Ocugen Chief Executive Shankar Musunuri. Ocugen's stock, which had closed Wednesday at the lowest price since Feb. 4, has still soared 154.6% year to date, while the iShares Biotechnology ETF /zigman2/quotes/206189322/composite IBB +0.50% has edged up 1.9% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.01% has advanced 28.0%.

/zigman2/quotes/208160861/composite
US : U.S.: Nasdaq
$ 2.23
-0.01 -0.45%
Volume: 5.23M
May 20, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$480.93 million
Rev. per Employee
N/A
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/zigman2/quotes/206189322/composite
US : U.S.: Nasdaq
$ 115.61
+0.58 +0.50%
Volume: 1.85M
May 20, 2022 4:15p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,901.36
+0.57 +0.01%
Volume: 3.00B
May 20, 2022 5:03p
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