Benzinga | Jun 15, 2021 11:48AM EDT

Ocugen Stock Jumps After Recruiting Jubilant HollisterStier As Manufacturing Partner For COVID-19 Vaccine Candidate

* Ocugen Inc (NASDAQ:OCGN) has selected Jubilant HollisterStier of Spokane, Washington as its manufacturing partner for COVID-19 vaccine candidate, Covaxin for the U.S. and Canadian markets.

* "Securing US-based manufacturing capability is a critical step as we prepare to submit our regulatory submissions to the FDA and Health Canada," said J.P. Gabriel, Ocugen's Senior Vice President, Manufacturing and Supply Chain.

* Covaxin, India's COVID-19 vaccine by Bharat Biotech, is developed in collaboration with the Indian Council of Medical Research.

* In May, the vaccine demonstrated potential effectiveness against the Brazil variant of SARS-CoV-2, B.1.128.2.

* Ocugen submitted a "Master File" to the FDA before seeking an emergency use authorization in the U.S.

* Price Action: OCGN shares are up 7.34% at $6.57 during the market trading session on the last check Tuesday.