Ocugen's stock jumps 4% after saying FDA lifted hold on trial for experimental COVID-19 shot

Shares of Ocugen Inc. OCGN, -2.40% gained 4.7% in premarket trading on Friday after the company said the Food and Drug Administration lifted the clinical hold for the COVID-19 vaccine it’s developing with Bharat Biotech, a privately held biotech based in Hyderabad. The vaccine candidate is currently in a Phase 2/3 clinical trial, and Ocugen said it expects to start “this immuno-bridging and broadening clinical trial as soon as possible.” Ocugen’s stock has tumbled 61.8% over the past year, while the broader S&P 500 SPX, +1.50% is up 9.2%.