The Gaithersburg, Md.-based biotech that came up with a faster and innovative way to produce vaccines has announced positive data from a Phase 2 trial focused on developing an Influenza vaccine.
Novavax, Inc. (Nasdaq: NVAX) said top-line data from the Phase 2 clinical trial showed that the Seasonal Influenza VLP vaccine contender was well-tolerated by patients with no serious vaccine-related side effects. The results were 50% greater than in a prior phase 2 trial in inhibiting the hemagglutination (or grouping) of the influenza virus said Louis F. Fries III, M.D., Chief Medical Officer at Novavax.
The study is actually part of a HHS-BARDA contract and it received funding from the Office of the Assistant Secretary for Preparedness and Response, Biomedical Advanced Research and Development Authority, Department of Health and Human Services.
"These positive topline data from the Phase 2 trial of our Seasonal Influenza vaccine candidate represent an important achievement in this program. We look forward to a complete review of these data with our partner BARDA to determine next steps in the development of this product. Our collaboration with BARDA also includes the development of our novel H7N9 Influenza vaccine candidate in combination with Matrix-M(TM). We expect the next steps in our collaboration will be the initiation of a Phase 2 clinical trial of the H7N9 vaccine candidate in the adult population in the first quarter of 2016." Stated Novavax President and CEO, Stanley C. Erck.
Novavax, Inc has grown in market value in the past year reaching approximately $3.24 billion today. Shares are currently trading up at $12.14. The 52 week range is between $3.92 and $13.12.