NVAX Stock: Why Novavax Shares Are Shooting Higher Friday

Novavax (NASDAQ:NVAX) stock is making waves on Friday following an update on its vaccine for the novel coronavirus. The company has been testing out its vaccine in the U.K. and Africa to great effect.

Novavax (NVAX) logo surrounded by medical supplies
Source: Ascannio/Shutterstock.com

According to a news release from Novavax, its coronavirus vaccine is effective in treating both the novel coronavirus and variant strains of it. Its Phase 3 clinical trial in the U.K. showed 96.4% effectiveness for mild, moderate, and severe diseases caused by the original coronavirus strain.

The Phase 3 trial ran by Novavax included 15,000 patients ranging from the ages of 18 to 85. Effectiveness against variant strains B.1.1.7/501Y.V1 was sitting at 86.3%. This gives the vaccine an overall effective rate of 89.7% in the Phase 3 trial.

Novavax’s Phase 2b trial in South Africa showed 55.4% efficiency in treating patients that were HIV- negative. That’s worth noting as the majority of coronavirus strains on the continent are B1.351 escape variants.

Another positive from the study were no cases of death in connection to the clinical trials. Novavax also points out that the only severe cases of coronavirus were in individuals in the placebo groups.

Stanley C. Erck, president and CEO of Novavax, said this about the news sending NVAC stock higher.

“We are very 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.”

NVAX stock was up 11.9% as of Friday morning.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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