Ocugen's Vision Loss Gene Therapy Receives Orphan Drug Tag In Europe

The European Commission has designated Orphan Medicinal Product status to Ocugen Inc's (NASDAQ: OCGN) OCU400 (AAV5-hNR2E3) to treat both retinitis pigmentosa (RP) and Leber Congenital amaurosis (LCA).
Orphan medicinal product benefits include protocol assistance, reduced regulatory fees, research grants, and ten years of market exclusivity following regulatory approval.
This month, Ocugen teamed up with India's Bharat Biotech to co-develop COVID-19 vaccine candidate Covaxin for the U.S. market.
According to Form DEFA14A, the company proposed an increase in its authorized shares by 95 million.
Price Action: OCGN is down 15.9% at $7.72 in premarket trading on last check Tuesday.