Novavax news for Thursday concerning one of its drugs has NVAX stock soaring higher.
The new about Novavax (NASDAQ:NVAX) today that has the stock up today has to do with the U.S. Food and Drug Administration (FDA). The government agency says that the company’s NanoFlu has access to an accelerated approval pathway.
What this Novavax news means is that NanoFlu is sage to move forward with rapid approval that could allow the drug to reach customers sooner. These options are available to treatments for serious illnesses that offer benefits not available from current options.
“The accelerated approval pathway allows us to potentially obtain U.S. licensure more expeditiously, and ideally, deliver a greatly needed improved flu vaccine, which could reduce the tremendous medical and economic burden of influenza,” Gregory M. Glenn, M.D., President of Research and Development of Novavax, said in a statement.
The Novavax news release about the accelerated approval pathway notes that the company will be meeting with the FDA to set up a Phse 3 clinical trial of NanoFlu. The company hopes to hold the Phase 3 trial later this year and have results from it in the first quarter of 2020.
This isn’t the only Novavax news for Thursday. The company also announced a partnership with Catalent Biologics. This will have Catalent Biologics acquiring NVAX’s manufacturing assets and capabilities for $18 billion.
NVAX stock was up 9% as of noon Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.