Malvern-based Ocugen collaborated with India’s Bharat Biotech to develop a fourth vaccine, and it could be a game-changer in the ongoing fight against COVID-19, writes John George for the Philadelphia Business Journal.

Phase-3 clinical testing results for Covaxin demonstrate an efficacy rate of 78 percent against mild, moderate, and severe COVID-19 infections. Its track record in severe cases is 100 percent.

In India, recipients of Covaxin number in the millions.

“We believe that Covaxin can help change the course of this pandemic by preventing severe COVID-19 disease, including hospitalizations,” said Ocugen CEO Shankar Musunuri. “(It can) significantly limit the spread of asymptomatic COVID-19 infections, based on efficacy shown to date.”

The clinical testing results helped to catapult Ocugen’s stock by roughly 80 percent since the announcement. The biopharmaceutical company plans to obtain an emergency use authorization for the vaccine from the FDA. It hopes for that green light before the end of the month.

Also, Ocugen looks to raise $100 million through a direct stock offering next week.

Read more about Ocugen in the Philadelphia Business Journal.