Shares of Ocugen Inc. OCGN,
rose 31.0% in premarket trading on Wednesday after biopharmaceutical company said its development partner Bharat Biotech launched a mid-term review of its phase 3 study of its COVID-19 vaccine candidate, COVAXIN, which has been shown to be effective. of 81%. The Phase 3 trial in Bharat, India, enrolled 25,800 participants between the ages of 18 and 91, with the first interim analysis based on 43 cases. A review of the safety database showed severe, serious, and healthcare-associated adverse events that occurred at low and balanced levels between the vaccine and placebo groups. “These results, which in part suggest significant immunogenicity against the rapidly emerging British variant, are a further step toward shaping the US regulatory path and approval in the United States,” said Shankar Musunuri, Ocugen’s chief executive. COVAXIN, a virion-based vaccine candidate, is designed to meet a significant unmet need in our national arsenal of COVID-19 vaccines. Ocugen stock has risen 3,071.5% in the last three months, while the IBS iShares Nasdaq Biotechnology IBB ETF,
approached 6.8% and the S&P 500 SPX,
gained 5.6%.