Novavax (NVAX) Stock Skyrockets On COVID-19 Vaccine News

Novavax NVAX Stock News

Novavax, Inc. (NASDAQ: NVAX) is seeing tremendous gains in the market, joining the ranks of several biotech companies that have seen strong movement after announcing work to fight the Wuhan Coronavirus. Early this morning, the company announced that it has made key moves with regard to the development of its vaccine. Here’s what’s going on:

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NVAX Stock Climbs On Coronavirus Vaccine News

In a premarket press release, Novavax announced progress with regard to its development of a vaccine to protect against the Wuhan Coronavirus, dubbed COVID-19. In the release, the company said that it has produced multiple nanoparticule vaccine candidates. At the moment, it is assessing these candidates in animal models in an effort to tie down the best candidate for human testing.

In the release, NVAX said that it expects for human testing to begin in spring of this year. The company’s candidates were created using its proprietary recombinant protein nanoparticle technology platform. The platform was used to generate antigens derived from the coronavirus spike (S) protein.

The company said that it expects to see enhanced immune responses through the use of its proprietary Matrix-M adjuvent with its vaccine candidate. In a statement, Stanley C. Erck, President and CEO at NVAX, had the following to offer:

Our previous experience working with other corona viruses, including both MERS and SARS, allowed us to mobilize quickly against COVID-19 and successfully complete the critical preliminary steps to engineer viable vaccine candidates. Now that the protein has been expressed stably in our baculovirus system, we aim to identify the optimal candidate and scale up production of sufficient vaccine for preliminary clinical trials. We are now well-positioned to advance the COVID-19 vaccine candidate to Phase I clinical testing in May or June.

Why Investors Are Sending The Stock For The Top

To date, Novavax seems to be in second place in the race to develop a vaccine for the Wuhan Coronavirus. Currently Moderna Inc (NASDAQ: MRNA) is the first and only company to announce human trials of a potential COVID-19 vaccine. However, NVAX is the first to announce animal testing among the rest of the competitors.

Considering this, the company is well on its way to the development of a vaccine. Moreover, the copany said that it expects human testing to begin in spring. So, the company is not far behind MRNA.

If the company does develop an effective vaccine, it will be a big win. After all, the COVID-19 virus is a highly-infectious agent that has been the center of attention in the media. Considering this, demand for such a vaccine would likely be incredibly high.

For a company with a market cap of just $325 million, being second in this race is massive. As such investors should pay close attention to NVAX ahead.

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