Ocugen jumps 20% after its COVID-19 vaccine shows potential effectiveness against virus variants

<p><img src="https://static1.businessinsider.com/image/6090058234af8d001859a811-2400/Vaccine distribution.jpg" border="0" alt="Vaccine distribution" data-mce-source="lechatnoir/Getty Images"></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><p>Shares of Ocugen jumped 20% on Monday after the biopharmaceutical company announced that its COVID-19 vaccine has shown signs of potential effectiveness against three variants of the virus.</p><p>Covaxin, co-developed with Indian firm Bharat Biotech, demonstrated potential effectiveness against the variant of SARS-CoV-2 first discovered in Brazil.</p><p>A previous study conducted also suggested that Covaxin was effective against variants first seen in the UK and India, suggesting the vaccine's effectivity against multiple strains of COVID-19.&nbsp;</p><p>The company has submitted a comprehensive drug master file with the US Food and Drug Administration and is preparing the vaccine's emergency use authorization application, according to Dr. Shankar Musunuri, CEO and co-founder of Ocugen.</p><p>Currently, there are only <a href="https://www.cdc.gov/coronavirus/2019-ncov/vaccines/different-vaccines.html">three authorized and recommended vaccines</a> in the US to prevent COVID-19, from Pfizer-BioNTech, Moderna, and Johnson &amp; Johnson.</p><p>In the recently shared second interim results of the phase 3 clinical trial, Covaxin demonstrated 78% overall efficacy and 100% in severe COVID-19 disease - including hospitalization.</p><p>&nbsp;</p><p>&nbsp;</p><p><a href="https://www.businessinsider.com/ocugen-stock-price-covid-19-vaccine-potential-effectiveness-virus-variants-2021-5#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/kosher-passover-coca-cola-bottles-yellow-cap-bottle-soda-retail-food-drink-jewish-jews-2017-4">Why some Coca-Cola bottles have a yellow cap</a></p>
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