Novavax Inc. (NASDAQ: NVAX) stock jumped to close out the week after the firm announced the final efficacy numbers for its COVID-19 vaccine candidate. With this out of the way, the company should be able to push forward with distribution shortly.
In terms of the specifics, Novavax announced efficacy of 96.4% against mild, moderate and severe disease caused by the original COVID-19 strain in a pivotal Phase 3 trial in the United Kingdom of NVX–CoV2373, the company’s vaccine candidate.
The company also announced the complete analysis of its Phase 2b trial taking place in South Africa, with efficacy of 55.4% among the HIV-negative trial participants in a region where the vast majority of strains are B1.351 escape variants. Across both trials, NVX-CoV2373 demonstrated 100% protection against severe disease, including all hospitalization and death.
Management noted that it was encouraged by the data showing that NVX-CoV2373 not only provided complete protection against the most severe forms of disease, but also dramatically reduced mild and moderate disease across both trials. Importantly, both studies confirmed efficacy against the variant strains.
The U.K. study enrolled more than 15,000 participants between 18 and 84 years of age, including 27% over the age of 65. Efficacy was 96.4% against the original virus strain and 86.3% against the B.1.1.7/501Y.V1 variant circulating in the United Kingdom.
In volunteers 65 years of age and older, 10 cases of COVID-19 were observed, with 90% of those cases occurring in the placebo group. Older adults are among the groups most affected by the disease and are at high risk of complications from COVID-19.
Novavax expects the data to serve as the basis for submission for authorization to various regulatory agencies worldwide.
Novavax stock traded up about 6% on Friday to $199.50, in a 52-week range of $6.77 to $331.68. The consensus price target is $281.25.
24/7 Wall St.Cash Back Credit Cards Have Never Been This Good
Credit card companies are at war, handing out free rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
