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Benzinga
Benzinga
Business
Henry Khederian

Ocugen (OCGN) Shares Slide Following Merger Agreement: What's Going On?

Ocugen OCGN Nasdaq
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Shares of Ocugen Inc (NASDAQ:OCGN) are trading lower by more than 8% Monday afternoon. The company earlier announced a definitive agreement to merge its subsidiary OrthoCellix with Carisma Therapeutics in an all-stock deal.

What To Know: Under the agreement signed June 22, OrthoCellix, holder of Ocugen's NeoCart regenerative medicine assets, will merge with a Carisma subsidiary, becoming a wholly owned subsidiary of Carisma.

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