Novavax, Inc. Common Stock, also called Novavax, is operates as a clinical-stage biotechnology company, which focuses on the discovery, development and commercialization of vaccines to prevent infectious diseases. It produces vaccine candidates to respond to both known and emerging disease threats by using the proprietary recombinant nanoparticle vaccine technology. The firm's vaccine candidates include ResVax and NanoFlu. It also develops immune stimulating saponin-based adjuvants through its wholly owned Swedish subsidiary, Novavax AB. The company was founded in 1987 and is headquartered in Gaithersburg, MD. Read Less
Novavax On Track For 100M Doses: Novavax got straight to work on a vaccine in January as soon as the gene sequencing of the virus was first identified, Erck said.
The company was quick to use a manufacturing platform similar to other vaccines to scale up, the CEO said.
The government grant as part of Operation Warp Speed allows the company to better proceed with the "very expensive" Phase 2 and Phase 3 trials to show a vaccine is safe, effective and stable, he said.
The trial will also evaluate if a person needs one or two doses of the vaccine for effective protection, Erck said.
The grant also allows Novavax to immediately start producing large quantities of the vaccine in multiple countries, the CEO said.
This puts the company on a timeline to begin shipping doses in the fourth quarter of 2020 and complete the initial 100 million units shipped by the first quarter of 2021, he told CNBC.
Own a #1 Breakout Stock Every Month?
For over a decade, Benzinga has lead the way when it comes to investor access to information. The Benzinga Breakout Opportunity Letter uses three market-beating 'Delta Factors' to find stocks that could surge in the weeks ahead. Click here to find out how you can get the name of Benzinga's next breakout stock recommendation.
Gottlieb Says Funding A 'Good Bet': The government is making a "good bet" by adding Novavax to its funding program, ex-FDA chief Dr. Scott Gottlieb also said on CNBC's "Squawk Box."
The other "bets" made by the government consist of mRNA vaccines and viral vector vaccines.
In contrast, Novavax's protein vaccine represents a differentiated platform, even if the company is "a little further behind" other peers, Gottlieb said.
"I don't know if the Novavax vaccine will be available this year but it is good we are placing bets on these kinds of platforms."
NVAX Price Action: Novavax shares were up 31.03% at $104.09 at the time of publication Tuesday.
Related Links:
No comments:
Post a Comment