Shares of biopharmaceutical company Ocugen Inc. (NASDAQ:OCGN) fell 2% in Tuesday's ordinary trading session after seeing amazing positive aspects on Monday.
What came about: Ocugen's inventory fell more than 2% to $9.15 in Tuesday's trading on disappointing news regarding Covaxin, the COVID-19 vaccine of Ocugen's companion, India-primarily based Bharat Biotech.
the realm fitness firm's (WHO) technical advisory group on Tuesday sought "additional clarifications" from Bharat Biotech to habits a ultimate "risk-benefit evaluation" earlier than the vaccine's popularity of emergency use checklist, the times of India newspaper mentioned.
The WHO also reportedly noted its technical advisory community expects to acquire these clarifications from Bharat Biotech by using the end of this week and meet on Nov. 3 for a remaining assessment.
Why It matters: Ocugen, one of the most-mentioned stocks on Reddit's r/WallStreetBets discussion board, is partnered with Bharat Biotech for the commercialization of Covaxin within the u.s. and Canada.
The WHO approval would enable the vaccine to be administered in low- and center-income countries below the COVAX facility and additionally allow people inoculated with the vaccine to trip to different international locations without restrictions.
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