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Ocugen, Inc. (OCGN) Stock Rocketing in Aftermarket Trading Session, Here’s the Reason

Ocugen, Inc. (OCGN), a clinical-stage company related to the biopharmaceuticals industry, has rocketed 28.03% in aftermarket trading session and as a result, is trading at $4.43 at the time of the writing. During Monday’s mid-day session, the stock declined by 1.14% and closed the day at $3.46. The stock surged in the aftermarket as the company announced the lifting of hold on NDA for COVAXIN.

FDA Lifted Clinical Hold Over COVAXIN

On Friday, OCGN announced that US Food and Drug Administration (FDA) had lifted the clinical hold over its Investigational New Drug Application (NDA) for evaluation of its COVID-19 vaccine candidate, BBV152, also termed as COVAXIN™. CEO of Ocugen Dr. Shankar Musunuri expressed his pleasure over the development and said that the step would bring the company a step closer to providing an alternative to the COVID-19 vaccine.

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Upcoming Results for Q4 and FY 2021

On the same day, OCGN announced that it would host the Q4 and FY 2021 financial results on Friday, 25th February 2022. The company said that it would issue a pre-market earnings announcement on the same day, i.e. Friday. The executive management of the company would provide a business update as well as provide guidance for the upcoming three and 12-month period.

OCGN Shared Results of Survey

On 15th February, OCGN reported the results of an online survey, conducted on its behalf by The Harris Poll. The results found out that the majority of Americans want more COVID-19 vaccine options to choose from. 73% of Americans said that they would want to see more vaccine options available to them in near future. Dr Shankar Musunuri, while commenting on the results, said that all of the effective options should be considered by health authorities for the management of pandemics.

What’s Next for OCGN?

Looking towards what’s coming ahead, the analysts believe that OCGN holds several negative signals, and hence, is expected to perform weakly in the next few weeks. Investors should make a careful decision regarding their investments in OCGN stock,

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