Ocugen Inc ( OCGN ) shares are trading higher by 7.7% to $1.97 during Monday’s session after the company announced U.S. FDA clearance of the IND amendment to initiate a Phase 3 clinical trial of OCU400.

The trial will enroll 150 participants, divided into two arms, focusing on individuals with the RHO gene mutation and those with gene-agnostic RP. Utilizing an updated mobility assessment tool called LDNA, the trial aims to assess the therapy’s efficacy across various disease stages.

With orphan drug and RMAT designations already secured, Ocugen ( OCGN ) targets BLA approval for OCU400 by 2026. The company says this offers potential hope to the approximately 110,000 RP patients in the United States and 1.6 million worldwide.

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Is OCGN A Good Stock To Buy?

An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages – like Ocugen ( OCGN )‘s page for example – there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.

These are known as capital allocation programs. Ocugen ( OCGN ) does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's dividend calendar for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.

For example, if you're looking to earn an annualized return of 12.38%, you'll need to buy a share of Generation Income by the Apr. 12, 2024. Once done, you can expect to receive a nominal payout of $0.04 on Apr. 30, 2024.

Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on Ocugen ( OCGN ) will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.

According to data from Benzinga Pro, OCGN has a 52-week high of $2.10 and a 52-week low of $0.34.