Ocugen (NASDAQ:OCGN) stock is on the move Friday after the company revealed preliminary results from an ongoing clinical trial.
The preliminary results come from the company’s Phase 1/2 clinical trial of OCU400. This is Ocugen’s drug in development for the treatment of Retinitis Pigmentosa and Leber Congenital Amaurosis.
According to the company, it saw vision improvements in some of its patients taking part in the clinical trial. Also, the safety of OCU400 came out positive with the drug being well tolerated by patients.
David Birch, Ph.D., principal investigator of the study, said the following about the results:
“I am very pleased by the outcomes I have seen in my own clinic and am hopeful that OCU400 could provide a therapeutic solution for RP patients who are not only facing loss of vision, but also challenged with the psychological burden of losing their independence.”
What This Means for OCGN Stock
Investors are reacting well to the news as this gives them hope for positive results from the trial. If all goes well, it will also likely result in additional clinical trials. This all puts it one step closer to commercialization, which is what traders are ultimately hoping for.
OCGN stock started off strong this morning with shares rising. However, the stock is currently down slightly as of Friday morning.
Investors looking for more of the most recent stock market news will want to continue reading!
InvestorPlace is home to all of the hottest stock market news for Friday! Among that is what has shares of Boeing (NYSE:BA), Lucid (NASDAQ:LCID), and Mind Medicine (NASDAQ:MNMD) stock in the news today. You can catch up on all of that news at the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
