Business News: Novavax based vaccine results will challenge share increase by 1,190.
The upcoming release of the results of Novavax Inc.’s Covid-19 vaccine trial could not only help provide further relief from the pandemic around the world, but could also validate investor support that backed the 1.190% stock in the ‘last year.
The biotech firm said in March that its shot could be cleared by the Food and Drug Administration for emergency use as early as May. To meet its May target, Novavax may need to submit data to the FDA within the next week or so. It may take several weeks to review the results and decide whether to grant an authorization, based on the deadlines of previous Covid-19 vaccine authorizations in the United States. If that materializes, the company will have the fourth Covid-19 vaccine in the United States in addition to shots from Pfizer Inc. with its German partner BioNTech SE, Moderna Inc. and Johnson & Johnson.
Novavax representatives declined to comment on the upcoming results and the timing for the release of the test data. Novavax may have missed the vaccination race for millions of Americans with over 230 million doses given in the United States, but a successful trial can still help developing nations like India and Brazil, where shots are in high demand. as infections hit record levels. US President Joe Biden said Tuesday that the next vaccines, including one from Novavax, could be shared with or.
Novavax’s stock skyrocketed last summer when it became one of the first in the race to develop a coronavirus inoculation. But it has since lagged behind the US market leaders both from a manufacturing and valuation standpoint.
Moderna, which got an emergency clearance in December, now trades at around four times Novavax’s market value of around $ 17.6 billion, while Germany’s BioNTech is worth $ 43 billion. CureVac NV, another promising vaccine that has also been backed by its ties to Tesla Inc., is valued at approximately $ 21 billion.
“What is very encouraging is the efficacy of 96.4% compared to previous versions of the virus and 86.3% against the B.1.1.7 variant prevalent in the UK – 57% of infections in the study. There were five cases of severe Covid-19 in the final analysis, suggesting the vaccine is 100% similar to other vaccines being launched, which is not surprising given its success against milder diseases. “said Fazeli.