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Here's Why Ocugen Is Skyrocketing Today

TheMotleyFool

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Ocugen (NASDAQ: OCGN) shares are up 19.89% on heavy volume to $8.57 apiece as of 1:41 p.m. EDT. Today, sources told Indian news agency Asian News International that the World Health Organization will likely grant emergency use listing for Indian coronavirus vaccine Covaxin this week.

An EUL from the WHO would give credibility for more regulatory agencies around the world to approve Covaxin. In clinical trials, the vaccine demonstrated 77.8% effectiveness against symptomatic COVID-19, including those cases caused by variant strains. India-based Bharat Biotech owns the worldwide commercialization rights to Covaxin except in the U.S. and Canada, where it licensed them to Ocugen.

Image source: Getty Images.

Source Fool.com

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