Ocugen Knocks Out Investor Suit Over Covid Vaccine Approval

Ocugen Inc. beat a securities fraud lawsuit accusing the biotech company of misleading investors about the likelihood its Covid-19 vaccine would receive fast-track review from US regulators.

Investors alleged Ocugen stirred excitement when the company said it was talking with the Food and Drug Administration about authorizing Covaxin for emergency use. Ocugen didn’t disclose the fast-track path wasn’t possible because Ocugen hadn’t strictly followed FDA guidance, the suit said.

There was no indication at the time that emergency use authorization would only be extended to vaccines that adhered to each parameter in the FDA guidance, Judge Chad Kenney in the ...