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Why Is Ocugen (OCGN) Stock Up 5% Today?

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  • Ocugen (OCGN) stock is rallying alongside a new clinical trial.
  • The company is teaming up with NIAID to evaluate its flu and Covid-19 vaccine.
  • The agency wants to compare results from vaccines administered through inhalation and nasal spray.
OCGN Stock - Why Is Ocugen (OCGN) Stock Up 5% Today?

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Ocugen (NASDAQ:OCGN) stock is on the rise Tuesday after the clinical-stage biopharmaceutical company announced a new vaccine trial.

According to a press release from the company, its vaccine for the flu and Covid-19 has been selected for clinical trial. The National Institutes of Health’s National Institute of Allergy and Infectious Diseases (NIAID) is behind this trial.

That trial will have the agency comparing mucosal vaccine candidate OCU500 delivery methods in two ways. This includes delivery via inhalation into the lungs and its use as a nasal spray. Prior studies have shown promising results for OCU500 in preventing Covid-19 via inhalation.

The main purpose of this study is to discover if an inhaled Covid-19 vaccine provides a greater immune response when compared to the same vaccine administered as a nasal spray. NIAID  is conducting trials of several Covid-19 vaccines as part of this process.

What This Means for OCGN Stock

If these results go well for Ocugen, it could result in further development of its flu and Covid-19 vaccine. NIAID specifically mentions that it could work alongside Ocugen to determine the next steps for OCU500 following this clinical trial.

Investors are celebrating today’s news of OCGN stock climbing 4.8% as of Tuesday morning. This comes as some 800,000 shares change hands, as compared to its daily average of 3.1 million shares.

There are even more of the biggest stock market stories for today ready to go below!

We’re offering up insight into all of the latest stock market stories on Tuesday! Our coverage includes what’s happening with shares of Cloudflare (NYSE:NET), Palantir (NASDAQ:PLTR) and Akero Therapeutics (NASDAQ:AKRO) stock today. All of that news is available at the following links!

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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.


Article printed from InvestorPlace Media, https://investorplace.com/2023/10/why-is-ocugen-ocgn-stock-up-10-today-octo-10th/.

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