NEW YORK, June 20, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Ocugen, Inc. (“Ocugen” or the “Company”) (NASDAQ: OCGN). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Ocugen and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On May 26, 2021, Ocugen stated its plan to submit an Emergency Use Authorization (“EUA”) application for COVAXIN™, a COVID-19 vaccine, to the U.S. Food & Drug Administration (“FDA”) in June 2021. Then, on June 10, 2021, the Company issued a press release announcing that it “will no longer pursue an Emergency Use Authorization (EUA) for COVAXIN™” but would instead “pursue submission of a biologics license application (BLA) for its COVID-19 vaccine candidate, COVAXIN™.” The Company's Chairman of the Board, Chief Executive Officer, and co-founder further disclosed that “[a]lthough 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[.]”
On this news, Ocugen’s stock price fell $2.62 per share, or 28.14%, to close at $6.69 per share on June 10, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com .
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
