U.S. Markets open in 3 hrs 46 mins

Novavax News: Why NVAX Stock Is Plunging Today

William White

Novavax news concerning the results from the recent trail of its drug ResVax has NVAX stock falling on Thursday.

Novavax News: Why NVAX Stock Is Plunging Today

Source: Phalinn Ooi via Flickr

According to Novavax (NASDAQ:NVAX) the Phase 3 clinical trial for ResVax was unable to meet its primary endpoint. The goal was for the vaccine to prevent respiratory syncytial virus (RSV) lower respiratory tract infection (LRTI) by a medically significant degree.

The primary results from the Phase 3 Novavax news only has it being effective 39% against medically significant RSV LRTI. One of the secondary results have it being 44% effective against RSV LRTI hospitalizations. The other has it being 48% effective against RSV LRTI with severe hypoxemia.

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

ResVax is an aluminum adjuvanted respiratory syncytial virus fusion protein recombinant nanoparticle vaccine. This vaccine is administered to the mother in hopes of passing its effects on to her children.

“Our next steps include meeting with U.S. and European regulators to review these data and to discuss the path forward for licensure,” Stanley Erck, President and CEO of Novavax, said in a statement. “We wish to acknowledge and thank the investigators, the Novavax team and the many mothers and their families around the world that participated in this historic trial, bringing the world one step closer to an RSV vaccine.”

The poor results from the Phase 3 clinical trial for ResVax was incredibly bad Novavax news for NVX stock. NVX stock was down 66% as of noon Thursday.

More From InvestorPlace

As of this writing, William White did not hold a position in any of the aforementioned securities.

Compare Brokers

The post Novavax News: Why NVAX Stock Is Plunging Today appeared first on InvestorPlace.