Why Ocugen Shares Are Falling

Ocugen Inc OCGN shares are trading lower by 22.8% at $2.54 after the company announced the FDA declined to issue an EUA for COVAXIN for active immunization to prevent COVID-19 caused by SARS-CoV-2 in individuals 2 to 18 years of age.

Ocugen says the company intends to continue working with the FDA to evaluate the regulatory pathway for the pediatric use of COVAXIN.

Ocugen is a clinical-stage biopharmaceutical company. It is focused on discovering, developing and commercializing a pipeline of innovative therapies that address rare and underserved eye diseases.

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Ocugen has a 52-week high of $17.65 and a 52-week low of $2.87.