Novavax, Inc. (NASDAQ: NVAX) is headed up early on in the market this morning, and for good reason. The comapny announced the initiation of a Phase 2 clinical trial, exciting investors and sending the stock on a run for the top. Today, we’ll talk about:
- The trial initiation;
- what we’re seeing from NVAX as a result; and
- what we’ll be watching for ahead.
NVAX Announces Clinical Trial Initiation
As mentioned above, Novavax is having an strong start to the trading session this morning after announcing that it has initiated a Phase 2 clinical trial. In a press release issued early this morning, the company said that it has initiated the Phase 2 dose and formulation confirmation clinical trial in older adults. Through the trial, NVAX is assessing its nanoparticle seasonal influenza vaccine candidate known as NanoFlu.
In a statement, Stanley C. Erck, President and CEO at NVAX, had the following to offer:
Initiating this Phase 2 clinical trial of NanoFlu is an important milestone for Novavax… With top-line results expected in the first quarter of 2019, we plan to discuss these data with the FDA at an ‘End of Phase 2’ meeting and to agree on the appropriate Phase 3 clinical trial design to support licensure via accelerated approval. We continue to believe NanoFlu is a differentiated flu vaccine capable of better addressing a global public health problem, and can thereby capture a significant share of the multi-billion-dollar seasonal influenza vaccine market.
The above statement was followed up by Gregory Glenn, M.D., President of Research and Development at NVAX. Here’s what he had to offer:
The dual problems of antigenic drift and antigenic changes resulting from egg-based vaccine production have, in recent years, resulted in generally poor influenza vaccine effectiveness with potentially severe medical consequences, particularly in older adults. A substantially improved seasonal influenza vaccine is a widely recognized, high-priority unmet medical need… We look forward to evaluating NanoFlu in this trial, and subsequently moving into a pivotal Phase 3 clinical trial in the second half of 2019 with the goal of introducing a more effective flu vaccine option.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. In the case of Novavax, the news proved to be positive. After all, the trial initiation means that the company is one step closer to achieving its development goals with regard to NanoFlu, a vaccine that, if proven to be effective, safe and well tolerated, has the potential to drive a serious amount of revenue for the company. So, it comes as no surprise that excited investors are sending the stock up in the market this morning. At the moment (8:17), NVAX is trading at $1.92 per share after a gain of $0.070 per share or 3.78% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on NVAX. In particular, we’re interested in following the story surrounding the company’s continued work to bring NanoFlu to market as the candidate has incredible potential. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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