23:43
Traffic jam:   0
$
92.5919
100.2704

Novavax applies for FDA approval of its COVID-19 vaccine

15 June 2021
3544
2 min.
5
Novavax applies for FDA approval of its COVID-19 vaccine

Vaccine approval application

Novavax will be another major international supplier of vaccines against COVID-19, as trials of its NVX-CoV2373 vaccine have shown an overall effectiveness of 90.4% with good tolerability. Novavax expects coronavirus vaccination to be annual.

US biotechnology company Novavax (NVAX) on Monday published the final results of a large-scale test of its vaccine NVX-CoV2373 against COVID-19 involving 29,960 volunteers from the US and Mexico.

The results were better than experts and Wall Street experts expected. The Novavax vaccine showed 100% protection against hospitalizations and deaths, 100% protection against less dangerous strains of COVID-19, and 93% protection against predominantly circulating strains, with heavier tolerability.

The overall efficacy of the Novavax vaccine was 90.4%, with the company noting good tolerability and side-effects were similar to those seen with existing COVID-19 vaccines. The COVID-19 vaccine Novavax is a more traditional type of vaccine than those currently available. It contains a real version of the viral spike protein, which cannot cause disease but can directly trigger the immune system.

Vaccine manufacturers' promotions

On the back of the news, Novavax shares initially rose 9.5% on Monday, but ended the trading day down almost 1%.

Shares of Pfizer (PFE), BioNTech (BNTX)and Moderna (MRNA) on Monday reacted with significant declines of -1.3%, -7.5% and 5.2% respectively.

Novavax shares are up 86.3% since the start of 2021, after jumping more than 2,700% in 2020. Further gains in Novavax shares will require US Food and Drug Administration (FDA) approval for widespread use of the NVX-CoV2373 vaccine, as well as reports of major supply deals and confirmation that the COVID-19 vaccination will be annual.

Novavax said it intends to apply for FDA and other regulatory approvals in the 3rd quarter and remains committed to achieving production capacity of 100 million doses per month by the end of the third quarter. By the end of 2021, that figure should rise to 150 million doses per month.

While some countries, such as the US, have already purchased the necessary doses to vaccinate their entire population, many others have yet to do so.

Companies5 in the news

BioNTech
2 place
Novavax
3 place
Moderna
4 place
Pfizer
5 place
Section:

NEW YORK NEWS

News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director
Population
8112726073
Died this year
14317439
Born this year
35223434