Novavax stock volatile following positive early COVID-19 vaccine data

5 months ago 138

Novavax Inc. shares were volatile successful the extended league Wednesday aft the biotech cause shaper said archetypal information showed its COVID-19 vaccine booster showed immune responses against the omicron variant.

Novavax NVAX, -4.07% shares roseate arsenic overmuch arsenic 6% and dropped arsenic overmuch arsenic 8% aft hours from their Wednesday adjacent of $183.30, which had been a 4.1% diminution from their Tuesday session. At past check, shares were up 2.7% aft hours.

The institution said information showed a two-dose regimen of its NVX-CoV2373 vaccine demonstrated “broad cross-reactivity against omicron and different circulating variants from a superior 2-dose regimen, with responses that accrued pursuing a 3rd dose astatine six months.”

“We are encouraged that boosted responses against each variants were comparable to those associated with precocious vaccine efficacy successful our Phase 3 objective trials, suggesting that NVX-CoV2373 tin play an important relation successful the ongoing combat against caller variants,” said Gregory Glenn, Novavax president of probe and development, successful statement.

“Given the continued improvement of the coronavirus, the improvement of an omicron vaccine could beryllium necessary. Novavax has cloned, expressed and characterized the omicron spike macromolecule vaccine and volition soon participate the GMP-phase of production,” Glenn said. “We expect to statesman objective studies successful the archetypal 4th of 2022.”

Novavax shares are up 59% implicit the past 12 months, compared with a 27% summation successful the S&P 500 scale SPX, +1.02%.

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