Ocugen Inc (NASDAQ: OCGN) is screaming for the top in the market this morning, but with no press releases or SEC filings, many are wondering what’s going on. The gains seem to be related to a Fireside Chat that will take place at 10:00 a.m. this morning.
Here’s what’s going on:
Investors Look Forward To Ocugen Fireside Chat
At the moment, Ocugen is working to develop a vaccine for COVID-19, and investors are excited about a coming update. The update will hit the tape this morning as the company takes part in a virtual Fireside Chat hosted by Cantor Fitzgerald and Kristen Kluska at 10:00 a.m. this morning.
During the chat, Dr. Shankar Musunuri, Chairman, CEO, and Co-Founder of Acugen, as well as members of the Ocugen Vaccine Scientific Advisory Board will discuss progress with regard to the company’s COVAXIN COVID-19 vaccine.
During the chat, investors will learn more about safety and efficacy data from Phase 1, 2, and 3 studies, which show that the vaccine is 81% effective in staving off the virus. There will also be a discussion about what sets COVAXIN aside from other COVID-19 mRNA and adeno-based vaccines.
Moreover, Ocugen will talk about the opportunity the vaccine will likely lead to in the United States, where it will receive 45% of the profits from product sales.
This Fireside Chat is exciting news, and comes on the heels of strong data recently reported by the company. Moving forward, there’s a strong chance that the company will realize approval for its vaccine soon. Moreover, the differentiated approach taken by the company when developing the vaccine may make it a leading option on the market when it hits.
All in all, the company can look forward to quite a bit ahead.
In the coming months, the vaccine will likely be approved, commercialized, and begin to generate revenue. Given the fact that the demand for vaccines is overwhelmingly strong, I’m expecting for this revenue to be significant, pushing the company to profitability and setting the stage for a compelling 2021 performance.
The Bottom Line
The bottom line here is simple. Ocugen is firing on all cylinders with its COVAXIN product development, and due to its efforts, it will likely be hitting the market soon. This creates a massive opportunity, making OCGN stock one to watch closely.