Novavax, Inc. (NVAX) stock Continues to Gain Premarket. Here’s why?

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Novavax, Inc. (NVAX) gained a further 9.56% at $238.10 premarket, at the last check on Monday. The stock has been gaining on the news of its Covid-19 vaccine getting Emergency Use Listing from WHO.

In the previous market session, the stock gained 11.49% at its closing price of $217.32 with 11.12M shares exchanging. NVAX has continued gaining on the news and had increased by $25.00 at the time of writing.

Currently, the 75.61 million outstanding shares of the company trade at a market capitalization of $16.43 billion.

Emergency Use Listing for NVX-CoV2373

On November 17, NVAX and Serum Institute of India Pvt. Ltd. (SII) announced NVAX-CoV2373 has been granted Emergency Use Listing by the WHO. Moreover, the NVAX-CoV2373 is a Covid-19 vaccine for 18 years and older individuals. Furthermore, the EUL was granted to the vaccine manufactured and marketed as COVOVAXTM by SII. COVOVAX is marketed in India along with its licensed areas. In addition, another EUL filing is being reviewed by WHO for the marketing of the vaccine as NuvaxovidTM by Novavax.

Furthermore, WHO granted the EUL to the vaccine, based on the preclinical, manufacturing, and clinical trial data. Hence, the quality, safety, and efficacy of the vaccine proved to be of the required standards to qualify and attain the EUL.

According to President and CEO of Novavax, Stanley C. Erck, the EUL authorization is a crucial step for worldwide access to a protein-based Covid-19 vaccine. Previously, COVOVAX was issued EUA in Indonesia and the Philippines. Currently, it is under review by various regulatory authorities throughout the world.

NVAX’s PREVENT-19 Trial

On December 15, NVAX published the results of its Phase 3 clinical trial of NVX-CoV2373 in the New England Journal of Medicine. Furthermore, the paper was published under the title ‘Efficacy and Safety of NVX-CoV2373 in Adults in the U.S. and Mexico’.

According to the results, the NVX-CoV2373 showed:

  • 100% protection against moderate and severe disease
  • 2% efficacy in case of variants of concern
  • 4% efficacy against Covid-19 of any severity
  • mild-to-moderate and transient solicited adverse events
  • no safety concerns

NVAX’s Financial Highlights

On November 04, the company reported its financial results for the third quarter of 2021. Accordingly, NVAX had a net loss of $4.31 per share on revenue of $178.8 million in the third quarter of 2021. This compares to a net loss of $3.21 on revenue of $157.0 million in the year-ago quarter.

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