Why Ocugen Shares Are Trading Higher Today

Ocugen Inc OCGN and Bharat Biotech have amended their co-development, supply, and commercialization agreement to expand Ocugen's exclusive territory to include the commercialization of Covaxin in Mexico.
This gives Ocugen Covaxin commercialization rights for all of North America.
Covaxin can be an ideal vaccination option for Mexico at this pandemic stage. As a whole virion, inactivated vaccine, it elicits robust cellular immune memory to SARS-CoV-2 and variants of Concern.
Related: FDA Places Clinical Hold On Ocugen's Late-Stage COVID-19 Vaccine Trial.
The companies said that it offers logistical advantages that could support vaccine access in hard-to-reach communities.
The license extension between Ocugen and Bharat Biotech for commercialization in Mexico includes the same profit share structure as in the U.S.
Covaxin was developed by Bharat Biotech in collaboration with the Indian Council of Medical Research (ICMR) – National Institute of Virology (NIV).
The Covid-19 vaccine is a highly purified and inactivated vaccine manufactured using a vero cell manufacturing platform. With supplies of more than 350 million doses globally for adults and children, Covaxin is currently authorized for emergency use in more than 25 countries, including Mexico, and applications for emergency use authorization are pending in more than 60 other countries.
Price Action: OCGN shares are up 9.89% at $3.03 during the premarket session on the last check Monday.