Covaxin Shows Efficacy Against Variants Ocugen announced that a new study at Emory University has shown that booster doses of Covaxin, its COVID-19 vaccine, produce effective levels of neutralizing antibodies against both the Omicron and Delta variants. We see this as consistent with previous variant tests, and highly comparable to the mRNA vaccines from Pfizer and Moderna.Neutralizing Antibodies Were Found In 90% and 100% Of Patients Tested. The study tested patients who received two initial doses of Covaxin followed by a booster six months later. Blood samples collected 28 days after the booster showed neutralizing antibodies against the Omicron variant in over 90% and against the Delta variant in 100% of the patients. This is consistent with previous tests showing neutralizing antibodies against earlier variants.Covaxin Produces A Broad Antibody Response. Covaxin uses whole-killed virus methodology that stimulates an immune response against multiple regions of the virus. It produces antibodies against the surface proteins that can mutate into new strains as well as highly-conserved portions that do not change. This polyclonal response can give broad protection against current and future variants.Shelf Life And Refrigerated Storage Make Long-Term Distribution Practical. Covaxin can be stored at refrigerated temperatures and does not need frozen storage. It has a two year shelf-life at standard refrigerated temperatures of (2°C - 8°C) that fits with the current vaccine distribution and practices. We see these logistical considerations as a strong point that would make Covaxin practical for use as part of routine medical practice.Conclusion. We see a need for continued vaccine programs to contain future COVID-19 variants. The new study shows Covaxin boosters compare favorably with the mRNA vaccines. We reiterate our Outperform rating and $15 price target. Read More >>