By Chris Wack
Ocugen shares were up 9% at 45 cents after the company said the National Institute of Allergy and Infectious Diseases, a part of the National Institutes of Health, will conduct a trial comparing the administration of Ocugen’s mucosal vaccine candidate, OCU500, via two different mucosal routes, inhalation into the lungs and as a nasal spray.
The stock hit its 52-week low of 39 cents on Sept. 19, and is down 73% in the past 12 months.
The biotechnology company is developing a novel anti-viral mucosal vaccine platform initially targeting Covid-19 and influenza.
The intent is to provide protection against severe disease, increase durability and prevent transmission of viral threats. OCU500 is based on a novel chimpanzee adenovirus-vectored technology. Ocugen believes that this vaccine can be rapidly scaled-up as new variants emerge.
NIAID will be conducting clinical trials to evaluate several early stage vaccine candidates. Upon completion of the trial, NIAID and Ocugen will assess the results and determine next steps for OCU500.
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