Wed. Jan 19th, 2022

Source: Streetwise reports 08/04/2021

The shares of Novavax Inc. they traded nearly 19% higher after the company reported the completion of an advance purchase agreement with the European Commission to provide up to 200 million doses of its COVID-19 vaccine.

Coronavirus

The biotechnology company Novavax Inc. (NVAX: NASDAQ), which is dedicated to the development of new generation vaccines to treat serious infectious diseases announced that “it has reached an agreement with the European Commission (EC) for the purchase of up to 200 million doses of NVX-CoV2373, the company’s COVID-19 recombinant protein-based vaccine candidate with Matrix-M ™ adjuvant.”

Novavax explained that under the terms of the agreement, the EC plans to buy up to 100 million doses of its NVX-CoV2373 vaccine and has the option to buy another 100 million doses by 2023. company noted that it expects the vaccine to become the first COVID-19 protein subunit vaccine available in the EU.

The firm mentioned that it is now actively working on finalizing the submission of ongoing applications to the European Medicines Agency (EMA) for NVX-CoV2373. Novavax reported that it expects the process to be completed during Q3 / 21 and, if approved, will act promptly to begin delivery of the initial vaccine doses. The company noted that its global supply chain spans more than ten countries, including EU-wide facilities, and that it will be able to fully meet contracted supply needs. The NVX-CoV2373 vaccine will be packaged as a liquid formulation prepared for use in 10-dose vials that can be stored and kept stable at 2-8 ° C (35.6-46.4 ° F), which will allow at Novavax use your existing distribution channels in the vaccine supply chain.

The president and CEO of the company, Stanley C. Erck, stated: “We thank the European Commission for its collaboration in this important step in expanding vaccine options for citizens of Europe and globally as we work to bring the first COVID-19 vaccine to the protein subunit. market. . With clinical data from our trials showing strong efficacy against variants of concern and variants of interest, we believe that our vaccine candidate will play a critical role in the effort to help control the pandemic in the EU and other regions of the world. “

The President of the European Commission, Ursula von der Leyen, remarked: “As new variants of coronavirus spread in Europe and around the world, this new contract with a company that is already successfully testing its vaccine against these variants is an additional safeguard for the protection of our population. It further strengthens our broad portfolio of vaccines, for the benefit of Europeans and our partners around the world. “

The company described NVX-CoV2373 as “a protein-based candidate vaccine made from the genetic sequence of the first strain of SARS-CoV-2, the virus that causes COVID-19 disease.” The company indicated that during phase 1/2 clinical trials, NVX-CoV2373 was shown to be well tolerated and elicited a robust antibody response.

Novavax reported that in a phase 3 trial conducted in the UK with 15,000 adults, “NVX-CoV2373 demonstrated 96.4% efficacy against the original strain of the virus, 86.3% against variant B.1.1. 7 (alpha) and 89.7% in general “. In addition, the firm stated that in its Phase 3 PREVENT-19 study which enrolled nearly 30,000 adult subjects in the United States and Mexico, “NVX-CoV2373 demonstrated 100% protection against moderate to severe disease and a 90.4% overall efficiency “.

Novavax is a Gaithersburg, Maryland-based biotechnology company that uses its proprietary recombinant nanoparticle vaccine technology platform to discover, develop and market new and innovative vaccines designed to prevent serious infectious diseases.

Novavax Inc. began the day with a market capitalization of about $ 14 billion, with approximately 74.1 million shares outstanding and a short interest rate of approximately 8.2%. Shares of NVAX opened more than 9% higher today at $ 206.17 (+ $ 17.60, + 9.33%) from yesterday’s closing price of $ 188.57. Shares are trading today between $ 202.57 and $ 231.25 per share and closed at $ 223.81 (+ $ 35.24, + 18.69%).

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