Ocugen Inc. Common Stock (NASDAQ: OCGN)
On February 5, 2021, after the market close, Ocugen filed a Form 8-K with the SEC. Attached to the Form 8-K as exhibit 99.1 was an investor presentation regarding the Company’s apparent new mission to “develop a vaccine to save lives from COVID19”. The presentation described in great detail the Covaxin vaccine characteristics, the “unmet need in the United States” and Ocugen’s plan to develop and file an Emergency Use Authorization (“EUA”) with the U.S. Food and Drug Administration (“FDA”)
The Complaint alleges that Ocugen made materially false and/or misleading statements and/or failed to disclose that: (i) the information submitted to the U.S. Food and Drug Administration ("FDA") was insufficient to support an Emergency Use Authorization ("EUA"), (ii) Ocugen would not file an EUA with the FDA, (iii) as a result of the foregoing, the Company's financial statements, as well as Defendants' statements about Ocugen's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.