By Chris Wack
Ocugen Inc. shares fell 14% to $2.83 after the company said the U.S. Food and Drug Administration declined to issue an emergency use authorization for Covaxin.
The stock, which was down as much as 31% premarket, hit its 52-week low of $2.37 earlier in the session.
The biopharmaceutical company said its Covaxin vaccine's emergency use authorization was for active immunization to prevent Covid-19 caused by SARS-CoV-2 in individuals 2 to 18 years of age.
Ocugen said it would continue working with the FDA to evaluate the regulatory pathway for the pediatric use of Covaxin.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
03-04-22 1251ET