At last check in the current market, shares of Ocugen Inc. (OCGN) were down -21.00% at $2.59. Ocugen (OCGN) stock closed the last session at $3.29, decreasing -6.27% or -$0.22. Shares of the company fluctuated between $3.27 and $3.50 throughout the day. The number of shares exchanged was 5.18 million, less than the company’s 50-day daily volume of 12.53 million and lower than its Year to date volume of 12.45 million.
In the past 12 months, Ocugen (OCGN) stock has retreated -63.32%, and in the last week, the stock has moved up 7.69%. For the last six months, the stock has lost a total of -56.25%, and over the last three months, the stock has decreased by -45.44%. The stock has returned -27.69% so far this year. OCGN stock is falling after the U.S. Food and Drug Administration (FDA) declined a company application.
Which Ocugen drug was declined by the FDA?
Ocugen (OCGN) is a clinical-stage biopharmaceutical organization zeroed in on finding, creating, and commercializing quality treatments to fix visual deficiency illnesses and fostering an immunization to save lives from COVID-19. OCGN’s leading-edge modifier quality treatment stage can possibly treat different retinal sicknesses with one medication – “one-to-many”. OCGN’s original biologic item competitor plans to offer better treatment to patients with underserved infections, for example, wet age-related macular degeneration, diabetic macular edema, and diabetic retinopathy.
Ocugen (OCGN) today declared that the FDA, as of now, has declined to give an emergency use authorization (EUA) for COVAXIN for dynamic vaccination to forestall COVID-19 brought about by SARS-CoV-2 in people 2 to 18 years old.
- OCGN plans to keep working with FDA to assess the administrative pathway for the pediatric utilization of COVAXIN.
- OCGN had gone into an arrangement with immunization creator Bharat Biotech in late 2020, under which it would create, supply, and market Covaxin for the U.S. market.
- Covaxin, which isn’t cleared for any age bunch in the United States, is one of the two most broadly involved COVID immunizations in India and furthermore has a crisis use posting from the World Health Organization.
- In line with the FDA, OCGN has shared genuine security information from 36 million young people who had been inoculated with COVAXIN.
- Furthermore, information (in-vitro) proposing a strong balance against Delta and Omicron variations was submitted to reinforce the Company’s pediatric EUA accommodation, which now the FDA has declined.
OCGN’s COVAXIN endeavors in Canada
Ocugen (OCGN) has likewise submitted complete reactions to a Notice of Deficiency got in December 2021 from Health Canada in regards to its New Drug Submission (NDS) for COVAXIN. OCGN’s reactions are at present under audit by Health Canada.
