The shares of biotechnology firm Novavax Inc (Nasdaq: NVAX) soared 8.07% or $15.14 to close at $202.77 Friday following the company’s statement that its COVID-19 vaccine was exceptionally effective against the original strain of coronavirus and also the highly contagious UK variant.
According to the report published by Gaithersburg, Maryland-based Novavax, its COVID-19 vaccine was 89.7% efficient in preventing people from getting infected by a coronavirus.
The information was based on the Phase-3 clinical trial involving over 15,000 people aged between 18 and 84 years of age. Notably, 27% of the volunteers in the clinical trial were more than 65 years old.
Specifically, concerning the original virus strain, the vaccine, codenamed NVX-CoV2373, recorded an efficacy ratio of 96.4%. Regarding the highly infectious virus strand B.1.1.7 / 501Y.V1, which is widespread in the US and the US, the vaccine’s efficiency was 86.3%, as per the data published by Novavax.
The company also revealed that its COVID-19 vaccine recorded 48.6% efficiency in a small-scale trial involving 2,600 volunteers in South Africa. Another version of the virus, referred to as B.1.351, is spreading fast.
In South Africa, one of the trials assessed the efficacy, safety, and immunogenicity in roughly 2,665 healthy adults. At the same time, the second test gauged safety and immunogenicity in about 240 medically stable, HIV-positive adults.
A detailed study of vaccine efficacy among 147 positive cases (96 in the placebo group and 51 in the vaccine group) evidenced a total efficiency rate of 48.6% against largely variant strains. Novavax also pointed out that all five cases of severe disease were observed in the placebo group.
Novavax also disclosed that a detailed assessment of its Phase-2b trial is being done in South Africa. Notably, the efficacy ratio of the vaccine was a bit higher at 55.4% in HIV-negative volunteers. Furthermore, the vaccine NVX-CoV2373 evidenced 100% safety.
Statistical data indicates that the B.1.351 variant of the virus, which can escape from anti-bodies, is spread in 48 countries, in addition to 23 states in the US. The efficacy analysis also revealed that a significant portion of the people was affected by B.1.351/501Y.V2 variant in South Africa.
Commenting on the data, Stanley Erck, CEO of Novavax, said, “Importantly, both studies confirmed efficacy against the variant strains.”
Presenting information on the UK trial, Novavax stated that in the case of participants who were at least 65 years of age, 10 cases of COVID-19 were recorded, and 90% of those cases happened in the placebo group. It is now a well-known fact that older adults are the most affected by infectious disease, leading to massive complications.
The clinical trial results are anticipated to pave the way for the endorsement of the vaccine. The data will form the core of the application for authorization by multiple regulatory agencies across the globe.
The positive news related to the COVID-19 vaccine is expected to keep the stock of Novavax slightly bullish in the days ahead.
The historical price chart indicates that the stock is rising after consolidating at 125 levels. The stock is trading above its 50-day moving average, while the MACD indicator is making new highs. Therefore, we are anticipating the stock to remain in an uptrend in the days ahead.
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