The upcoming release of Novavax Inc.’s Covid-19 vaccine study results could not only add to another pandemic around the world, but also confirm investor support, which boosted the stock 1,190% over the past year.
The biotech company announced in March that its shot could be cleared for emergency use by the Food and Drug Administration as early as May. To meet the May target, Novavax may need to submit data to the FDA within the next week. It may then take several weeks for regulators to review the results and decide whether to grant approval based on deadlines for previous U.S. Covid-19 vaccine releases. In this case, in addition to the recordings of Pfizer Inc. with its German partner BioNTech SE, Moderna Inc. and Johnson & Johnson, the company will have the fourth Covid-19 vaccine in the USA.
Novavax officials declined to comment on the upcoming results and the schedule for the publication of trial data. Novavax may have lost the race to vaccinate millions of Americans with more than 230 million doses administered in the US, but a successful study can help developing countries like India and Brazil, where gunshots are in high demand as infections hit record highs. US President Joe Biden said Tuesday that upcoming vaccines, including one from Novavax, could be shared with o
Novavax’s shares skyrocketed last summer as it became a frontrunner in the race to develop a vaccine against the coronavirus. However, since then it has lagged behind the US market leaders in terms of both production and valuation.
Moderna, which received emergency clearance in December, is now trading at four times the market value of Novavax of around $ 17.6 billion, while BioNTech is valued at $ 43 billion in Germany. Another hopeful vaccine that has also been bolstered by its ties to Tesla Inc., CureVac NV is valued at approximately $ 21 billion.
“What is very encouraging is the effectiveness of 96.4% against previous versions of the virus and 86.3% against variant B.1.1.7, which is common in the UK – 57% of the infections in the study. Ultimately, there have been five cases of severe Covid-19, which suggests the vaccine is 100% effective, similar to other vaccines being introduced, which is not surprising given its success against milder diseases, “Fazeli said.