Shares of Novav ax x (Nasdaq: NVX) It was up 6.3% by 10:56 a.m. Monday after an increase of 9.7% earlier in the day. This nice benefit has been achieved after updating the progress of its COVID-19 vaccine development before the biotech market opened.
Novavax said it has completed its end-stage study in the UK and its phase 2B study registration in South Africa of coronavirus vaccine candidate NVX-Covey 2373. The company also said its US / Mexico late-phase study “is expected to begin next week.” Novavax previously said the study would begin in November.
You may have thought that the biotech stock NVX-CoV2373 is in its final stages in the U.S. Delays with the study will decrease after the announcement. And that’s exactly what happened in the beginning. Shares of Novavax fell nearly 6% on Monday morning. But the losses were reversed as investors saw a bigger picture for the company.
U.S. With a few weeks delay in the start of the late-phase study in Mexico, if NVX-CoV2373 proves to be safe and effective, it shouldn’t matter as much. At this point, there is no red flag to raise concerns.
Investors probably also recognized the importance of the good news announced by NovavX today. The company launched UV at the beginning of the first quarter of 2021. The region is growing, which should be well accessed as soon as possible.
The next major goal for NovaVax will be the start of a phase study at the end of its UV / Mexico NVX-Cavi 2373. It appears the study could begin in December, although the decision rests with the Food and Drug Administration. Novavax said more than 100 trial sites have been selected in the US and Mexico.