What’s going on with NVAX?
Novavax Inc. (NVAX) stock was trading slightly lower after the biotechnology company's COVID-19 vaccine candidate NVX-CoV2373 was selected to participate in a Phase 2 clinical trial in the United Kingdom to research if combining vaccines from different manufacturers would be effective. NVAX shares were down 1.91% and trading at $197.49 on Thursday afternoon, while shares in rival vaccine maker Moderna (MRNA) dipped 2.14% to $156.50 per share.
What does it mean for Novavax?
Investors were bearish to the Novavax coronavirus vaccine candidate's selection as one of four vaccines to be studied by Oxford researchers. The clinical trial seeks to “evaluate the potential for combined regimens that mix vaccines from different manufacturers to achieve immune protection against COVID-19,” the company said in a press release.
The trial will include 1,050 adults 50 years of age or older who received their first vaccination during the prior 8-12 weeks and will receive one of four different vaccines as a second dose, with 350 getting NVX-CoV2373.
"The focus of these studies is to explore whether multiple COVID-19 vaccines can be used more flexibly, with different vaccines being used for the first and second doses," Matthew Snape, Associate Professor in Paediatrics and Vaccinology at the University of Oxford, and Chief Investigator on the trial, said. "If we can show that these mixed schedules generate an immune response that is as good as the standard schedules, this could potentially allow more people to complete their COVID-19 immunization course more rapidly."
NVAX has an Overall Score of 70. Find out what this means to you and get the rest of the rankings on NVAX!
Novavax Inc is a biotechnology company that develops vaccines. The company works in the clinical stage of development with a focus on delivering novel products that prevent a broad range of diseases. Novavax works together with its wholly owned Swedish subsidiary to produce vaccine candidates to respond to both known and emerging disease threats. The company believes its vaccine technology has the potential to be applied broadly to a wide variety of human infectious diseases. Novavax develops product candidates geared toward all age demographics of the general population.