Novavax, the biotech firm, has claimed its Covid-19 vaccine to be safe and 90.4% effective in combating the virus. The vaccine has been tested in a clinical trial consisting of 30,000 participants across different states in the U.S and Mexico.
The Novavax vaccine has proven to be 100% effective in preventing individuals from catching moderate to severe levels of disease, while it holds a 93% efficacy rate against other variants. Upon successful completion of the clinical trial, the company is said to look into means of authorization with the Food and Drug Administration in the third quarter.
According to Dr. Gregory Glenn, Novavax’s president of research and development, data elicited from the clinical trial shows “consistent, high levels of efficacy and reaffirm the ability of the vaccine to prevent Covid-19 amid ongoing genetic evolution of the virus.”
With a highly positive response on the trial, the company’s shares saw an upward jump by nearly 9% in premarket trading and a 1% boost in day trading of stocks.
Considering the U.S already has a myriad of vaccines in the market, the government will likely send the Novavax doses to other countries that have a greater need for protective measures. The company’s CEO Stanley Erck told CNBC that it anticipates an enhanced demand for booster shots in the U.S. “It’s clear that we’re all going to need one boost and then maybe on an annual basis or some period,” said Erck in conversation with “Squawk on the Street.”
The company’s analysis confirmed the existence of 77 Covid infections among the 29,960 participants from the trial. 63 cases of Covid were identified in the placebo group against 14 cases recorded in the group that was subjected to the two-dose vaccine. Given these results, Novavax affirmed the vaccine efficacy to be 90.4%.
Additionally, the Novavax vaccine is also said to be well suited for individuals across all age groups. People who were administered the vaccines only suffered mild side effects, which included fatigue, headache, and muscle pain which usually went away in two days at maximum. Moreover, all hospitalizations from contracting Covid-19 occurred in the placebo group, said the company.
The Novavax vaccine also fights the Alpha variant, first identified in the U.K. Thus, if the FDA approves this vaccine, it would be an addition to the list of vaccines authorized for emergency use, including Pfizer-BioNTech, Johnson & Johnson, and Moderna. Biden’s administration has already decided to donate at least 20 million doses of Pfizer, Moderna, and J&J vaccines to other countries. If Novavax is approved, the U.S government is likely to donate these doses to help other states in need.
On Monday, Novavax announced that it remains on a steady path to reach a total manufacturing capacity of 100 million doses per month by the end of the third quarter and 150 million doses by the end of the fourth quarter.
