Shares of Novavax (NASDAQ:NVAX) are in focus, as the biotechnology company will share data from its Covid-19-Influenza Combination (CIC) vaccine candidate for Phase 1 and 2 trials at the World Vaccine Congress (WVC) Europe 2022 that starts tomorrow. Novavax will also share data on its Covid-19 vaccine as a homologous and heterologous booster for adults over 18 and adolescents between 12 and 17. Investors are expecting positive developments in NVAX stock since the data is being shared at a prestigious event.
President of Research and Development Dr. Gregory Glenn added:
“Data presented at WVC will show the continued momentum of our COVID-19 vaccine as a booster and also provide insight into our COVID-19-Influenza Combination vaccine candidate’s immunogenicity, safety, and optimal dose.”
Novavax is scheduled to present information on Oct. 12 and Oct. 13. In addition, Dr. Glenn will speak at a WVC keynote panel on Oct. 12 to discuss the future of Covid-19 vaccines. Other speakers will include Moderna’s (NASDAQ:MRNA) Dr. Jackie Miller and BioNTech’s (NASDAQ:BNTX) Ruben Rizzi. This year’s WVC event will conclude on Oct. 14.
Shares of NVAX stock are reacting positively to the news and closed up 9%.
What’s Going on With NVAX Stock?
Companies at the WVC can benefit greatly from increased exposure and awareness. The WVC website characterizes the event as “Your Best Sales Opportunity in 2022.”
In other news, Novavax will have to pay Fujifilm (OTCMKTS:FUJIY) up to $185 million in light of a cancelled commercial supply agreement for its Covid-19 vaccine. $48 million was paid last month, while the remaining payments will be issued in quarterly installments of $34.3 million beginning March 31 of next year.
The deal was initially agreed upon in June of 2020 as part of a contract development and manufacturing organization, or CDMO, agreement. However, as demand for the vaccine fell, Novavax realized it did not need further production. As of the end of the second quarter, Novavax had delivered more than 73 million doses of its vaccine.
Novavax also announced today that Switzerland’s Federal Office of Public Health (FOPH) has recommended Nuvaxovid as an adult booster for Covid-19, regardless of previous vaccine history. The agency cited data that supported Nuvaxovid’s use for combatting “currently circulating Omicron subvariants,” and that further booster shots would increase an immune response to these subvariants.
On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
