Novavax stock jerseys on final data from UK vaccine test

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Vaccine manufacturer’s shares

Novavax

popped 17% after the company released final data about a Phase 3 trial of the UK-produced Covid-19 vaccine, saying the vaccine had a 96.4% efficacy against moderate, moderate and severe disease caused the original release of Covid-19.

That’s slightly better than the 95.6% efficiency against the original constraint reported by the company at the end of January, based on an interim analysis of the data.

The final data comes as investors continue to await results from the US-based Phase 3 test

Novavax ‘s

(ticker: NVAX) vaccine, expect next quarter. The company has said it plans to start producing its vaccines in May or June.

Late on Thursday, Novavax reported that the UK test showed an efficiency of 86.3% against UK snoring, with an overall effectiveness, across all species, of 89.7%. Both results outperform the UK strain by 85.6%, and 89.3% overall, the company reported at the end of January.

Novavax also said the vaccine had shown 100% protection against serious illness, hospitalization and death.

In a Phase 2b survey the company ran in South Africa, however, results in the overall analysis released on Friday were slightly worse than the interim analysis from the end of January. Overall efficiency was 48.6%, lower than previously reported 49.4%. In HIV-negative subjects, the efficacy was 55.4%, lower than the previously reported 60%.

The company said most of the Covid-19 cases in the test were caused by the South African virus variant, known as B.1.351. However, the vaccine offered complete protection against serious disease, even in a South African study.

“We are very encouraged by the data which shows that NVX-CoV2373 not only provided complete protection against the most serious types of disease, but also significantly reduced moderate and severe disease. moderate across all tests, ”the company’s president and CEO Stanley Erck said in a statement. “Importantly, both studies have shown effectiveness against the different types.”

In a note released late Thursday, Cantor Fitzgerald analyst Charles Duncan said the results could be enough to get the vaccine authorized for emergency use.

“We believe this study is aligned with, and goes beyond, requirements in the FDA’s guideline for SARS-CoV-2 vaccine testing, which may allow it to be used for licensing. global, ”he wrote. That said, we maintain that, the situation may be too conservative, that the UK EUA is enabled by these final results, and the US claim will continue following a successful reading from the PREVENT test. 19. ”

In a separate note, Jefferies analyst Kelechi Chikere wrote that Novavax ‘will not be too late to find buyers for the Covid-19 vaccine, even because of guidance from competitors such as

Pfizer

(PFE) and

Moderna

(MRNA).

“While we fully understand that most adults in the US will be against the vaccine in Q2 with MRNA, PFE / BNTX or JNJ, there is still debate as to whether it will be enough. of ‘high-efficiency’ vaccines for the rest of the world and whether NVAX can make trends there, ”wrote Chikere. “Furthermore, the issue of raising the third dose to address weakened immunity or emerging changes remains an issue. ”

Write to Josh Nathan-Kazis at [email protected]