Operator
Good morning, and thank you for joining the GlycoMimetics call. At this time, all participants are in listen-only mode. Following management s remarks, we will hold a question-and-answer session. And at that time, the lines will be opened for you. [Operator Instructions]
I would now like to turn the call over to Shari Annes of Investor Relations Group at GlycoMimetics. Please go ahead.
Shari Annes
Investor Relations
Good morning. Today, we will review our accomplishments and financial results for the period ended March 31, 2021. We ll also update you on recent achievements. The press release we issued this morning is available on the company s website at www.glycomimetics.com under the Investors tab. This call is being recorded. A dial-in phone replay will be available for 24 hours after the close of the call. The webcast replay will also be available on the Investor Relations section of the company s website for 30 days.
GlycoMimetics Inc (GLYC) Q1 2021 Earnings Call Transcript
fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
(OCGN), Astrazeneca PLC (NYSE:AZN) - Ocugen s COVID-19 Vaccine Partner To Charge Twice As Much As Main Indian Rival Astrazeneca
benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
Shrilekha Pethe- April 26, 2021, 11:55 AM EDT SHARE ON:
Shares of Ocugen Inc shot up by 15.6% in pre-market trading on Monday as the company announced the sale of 10 million shares to institutional investors focused on healthcare at a purchase price of $10 per share in a registered direct offering.
Ocugen (
OCGN), a gene therapy company that aims to cure blindness, is set to close the direct offering on April 27 and it expects gross proceeds of $100 million from this offering. The company intends to use the net proceeds for working capital needs, general corporate purposes and capex.
Meanwhile, last week, OCGN’s COVID-19 vaccine co-development partner, Bharat Biotech, announced positive results for the second interim analysis of the currently ongoing Phase 3 study of Covaxin. The data indicated 100% efficacy against severe COVID-19 disease and a 78% vaccine efficacy in mild to moderate disease. (See Ocugen stock analysis on TipRanks)
Share:
Ocugen Inc (NASDAQ: OCGN) shares soared 42.9% in the regular session and another 11% in the after-hours session on Thursday.
What Happened: The shares surged following positive clinical data announced by a partner of Ocugen and a bullish stance taken by Roth Capital analyst Zegbeh Jallah who has a Buy rating on the stock and a 12-month price target of $10.
Earlier, on Wednesday, Ocugen’s co-development partner Bharat Biotech said that the second interim analysis of Phase 3 of Covaxin, a COVID-19 vaccine candidate, shows it demonstrated 78% efficiency in mild, moderate, and severe disease.
The vaccine is reportedly 100% effective against severe forms of viral illness.