Novavax Gains Following Promising Covid-19 Vaccine Trials

Shares of biotechnology company Novavax (NVAX) - Get Report rose on Thursday after the company revealed that early stage clinical trial results of its Covid-19 vaccine were safe and elicit an immune response. According to a study published Wednesday in the New England Journal of Medicine, Novavax’s phase 1 clinical trial results showed that its Covid-19 vaccine candidate induced immune responses and was generally safe in people ages 18 to 59. “The rapid publication of Phase 1 results from our trial in a prestigious peer-reviewed journal reflects both the importance of the data and the urgent need for an effective vaccine to slow the Covid-19 pandemic,” said Gregory Glenn, Novavax president of research and development, in a statement. Based on the positive results, which were previously announced by the company in early August, Novavax said it plans to continue with broader phase 2 studies this month to see whether the vaccine protects against Covid-19, the company said.