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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

Shares of Ocugen Inc. (NAS:OCGN) 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 (NAS:IBB) has edged up 1.9% and the S&P 500 (S&P:SPX) has advanced 28.0%.

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