Ocugen board of directors approves $2M share repurchase program
Ocugen announced that its Board of Directors unanimously approved a share repurchase program authorizing the repurchase of up to $2M in value of its outstanding common stock. The company said, "Ocugen believes its shares are significantly undervalued and this decision reflects Ocugen's continued confidence in achieving its corporate goals and commitment to increasing value for its stockholders." Pursuant to this repurchase program, Ocugen plans to repurchase stock through a broker in the open market, provided that the timing, actual number and price per share of the common stock to be purchased will be subject to management discretion and board guidance, market conditions, applicable legal requirements, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended, and various other factors. As of October 9, 2019, Ocugen had 12.2M shares of common stock outstanding.