What’s Going On with NVAX?
Novavax (NVAX) stock was trading higher after the biotechnology company announced favorable data was reported from a Phase 2b clinical trial of malaria vaccine candidate R21. The drug, developed by the University of Oxford, included Novavax’ Matrix-M component. Results published in Preprints with the Lancet reports the vaccine was found to be highly effective in a trial in Burkina Faso. NVAX shares were up 0.81% to $208.98 on Friday afternoon.
What Does It Mean for Novavax?
The phase 2b trial was conducted at the Clinical Research Unit of Nanoro (CRUN) / Institut de Recherche en Sciences de la Santé, Burkina Faso with 450 participants, ages 5-17 months. The researchers found vaccine effectiveness was 77% and it was well-tolerated in young children, with no reported reactions or side effects.
The Matrix-M component of the R21 malaria vaccine will be manufactured and supplied to the Serum Institute of India, which has a license to market it in certain regions where malaria is prevalent. NovaVax will receive royalties on the vaccine sales, while it retains commercial rights to sell the SII-made vaccine in certain countries.
"The team at Novavax is gratified to be a part of the collaboration that has led to today's important advance for this longstanding global health problem," said Gregory M. Glenn, M.D., President, Research and Development, Novavax. "Novavax' Matrix-M adjuvant used with the Oxford R21 antigen both minimizes the dose required and thereby increases the number of doses available, and stimulates a highly effective immune response that could protect the world's most vulnerable population, children."
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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.
