Novavax Inc (NASDAQ:NVAX) has been in focus among investors in recent days due to its work with regards to its COVID 19 vaccine and this morning, it emerged that the vaccine demonstrated 51% efficacy against the South African variant.
After the news broke, the Novavax stock declined and has gone down by 10% so far in premarket trading. The study also revealed that the efficacy of the Novavax COVID 19 vaccine was 43% among patients who were HIV positive.
The South African variant has worried experts since it contains mutations that can repel the effects of a COVID 19 vaccine. As a result, several companies in addition to Novavax are now working on ways to ensure that the vaccines as effective against the different strains of the COVID 19 virus.
The analysis from the study was published by the company in the New England Journal of Medicine yesterday. It now remains to be seen if the stock can manage to recover through the rest of the day.
This morning,Novavax finalizes advanced purchase agreement with the Vaccine Alliance (Gavi) for supply of 350 mln doses of NVX-CoV2373 vaccines.
Under the APA, Novavax expects to deliver doses with antigen and adjuvant manufactured at facilities directly funded by the investments Novavax received from the Coalition for Epidemic Preparedness Innovations (CEPI). CEPI invested nearly $400 million in Novavax in the spring of 2020 to advance preclinical and early clinical development, manufacturing scale-up, technology transfer, and manufacturing capacity reservation for NVX-CoV2373.