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Novavax Soars As Its COVID-19 Vaccine Is Found 90% Effective, To Seek FDA OK

·1 min read

By Dhirendra Tripathi

Investing.com — Novavax (NASDAQ:NVAX) shares rose more than 6% in Monday’s premarket trading after the company said a phase-three trial had found its two-dose COVID-19 vaccine to be 90.4% effective.

The trial had 29,960 participants across the U.S. and Mexico.

The vaccine was found to be 100% effective in preventing moderate and severe infections and 93% effective against some variants, Novavax said. The company plans to file for approval with the Food and Drug Administration in the third quarter.

Upon regulatory approvals, Novavax remains on track to reach manufacturing capacity of 100 million doses per month by the end of the third quarter and 150 million doses per month by the end of the fourth quarter of 2021, the company said in a release.

Once authorized, the Novavax vaccine would join Pfizer BioNTech (NYSE:PFE) (NASDAQ:BNTX), Moderna (NASDAQ:MRNA) and Johnson&Johnson (NYSE:JNJ), the three COVID-19 shots already approved for emergency use in the U.S.

Barring J&J’s, all are two-dose vaccines.  

 

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