What happened
Shares of Novavax (NASDAQ: NVAX) Climbed 10% on Friday after the biotechnology company reached a coronavirus vaccine ban with the UK.
So what
Novavax will supply the UK with 60 million doses of its COVID-19 vaccine candidate, NVX-CoV2373. The biotech is also planning a Phase 3 study to test the effectiveness of the vaccine among UK participants
“It is encouraging that recent clinical data from Novavax show that its vaccine triggers an immune response greater than that in patients who have recovered from the disease,” said Kate Bingham, chairwoman of the UK Government’s Task Force. “We believe Novavax has a highly innovative vaccine that could be the first in its class of protein-based vaccine options.”
Novavax’s stock rose sharply on Friday. Image Source: Getty Images.
Novavax is also expanding its partnership with Fujifilm Diosynth Biotechnologies, which will help produce as many as 180 million doses per year of NVX-CoV2373 from a site in the UK if the vaccine is shown to be safe and effective.
Well what
Phase 1 data from Novavax’s clinical trial were promising – NVX-CoV2373 elicited a robust anti-antibody response in patients and was generally well tolerated. Novavax expects to launch a Phase 2 study later this month.
The Phase 3 clinical trial in the UK will involve as many as 9000 participants aged 18 to 85. It will test the effectiveness of NVX-CoV2373 against COVID-19, as well as its ability to produce antibody and T cell responses in the body. The study is expected to begin in the third quarter.
Novavax’s agreement with the United Kingdom follows agreements with the US, Japan, India and South Korea in recent weeks. “We are honored to work with the UK Government to deliver a vaccine that can provide life-saving protection in the fight against the global health crisis,” said Stanley Erck, CEO of Novavax.
