Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Ocugen, Inc. (NASDAQ: OCGN) on behalf of Ocugen stockholders. Our investigation concerns whether Ocugen has violated the federal securities laws and/or engaged in other unlawful business practices.
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On May 26, 2021, Ocugen announced that it planned to submit to the FDA an Emergency Use Authorization (“EUA”) application for COVAXIN, a COVID-19 vaccine, in June 2021. On June 10, 2021, Ocugen announced that it “will no longer pursue an Emergency Use Authorization (EUA) for COVAXIN,” instead choosing to “pursue submission of a biologics license application (BLA) for its COVID-19 vaccine candidate, COVAXIN.” Ocugen’s Chairman and CEO stated, “Although we were close to finalizing our EUA application for submission, we received a recommendation from the FDA to pursue a BLA path,” and that “this will extend our timelines.”
Shares of Ocugen fell by more than 24% in intraday trading on the same day, based on this news.
On June 10, 2021, the Company said it would no longer pursue a EUA for Covaxin and would instead aim to file for a full U.S. approval of the shot.
On this news, the stock price plummeted and closed on June 11, 2021 at $6.69 per share, representing a 25.17% drop from the June 10, 2021 closing price of $9.31 per share.
If you purchased or otherwise acquired Ocugen shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at firstname.lastname@example.org, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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