Novavax Praised by Analysts as Covid-19 Vaccine Candidate Shows Strong Efficacy - (TheStreet via NewsPoints Desk)

  • Novavax shares surges up to 66% on Friday as analysts heaped praise on the company after it unveiled promising results for its COVID-19 vaccine candidate NVX-CoV2373, reported TheStreet.

  • Phase III data from a UK study showed NVX-CoV2373 had an 89.3% efficacy rate, with high efficacy seen against the fast-spreading UK variant as well, although the candidate was much less effective against an emerging South African variant in a separate trial conducted in that country.

  • Jefferies analyst Kelechi Chikere said "efficacy against the much talked about South Africa variant strain came in at 60%, which has significant implications for all the vaccine companies and the potential/size of an endemic market."

  • Chikere added that "with these results in hand, we think Novavax will be able to file for emergency-use authorization (or its equivalent) in multiple territories."

  • J.P. Morgan analyst Eric Joseph remarked that "on the whole, we believe the data are highly impressive and pave the way forward for NVX-CoV2373 as an approvable as well as commercially competitive vaccine product."

  • The analyst said "perhaps the more consequential takeaway from the [South Africa] trial…is the lack of protection provided by prior COVID-19 infection, suggesting a wider and more durable vaccine market opportunity on the road to reaching and maintaining herd immunity."

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