Novavax (NVAX) Soars On Flu Vaccine Data
Vaccine maker Novavax (NVAX) traded up 27% to $7.73, a 52-week high.
The firm reported favorable results from a Phase II human clinical trial of its trivalent seasonal influenza virus-like particle (VLP) vaccine candidate. The vaccine was well tolerated and induced robust immune responses against all three influenza strains in the vaccine. These results continue to support the planned study in elderly adults scheduled for the fourth quarter this year and pave the way for Novavax to advance its seasonal influenza VLP vaccine into Phase III studies next year.
Novavax now has a market cap of $700 million.
The stock could give back all or most of its gains if the Phase III trails go poorly.
Douglas A. McIntyre