Novavax’s Stock Rising, NVX‑CoV2373 Vaccine Against COVID-19 Receives Funds For Mass Production
On Thursday, NASDAQ: NVAX gained 0.93% reaching $44.66 but the daily trading volume could not beat the average volume of 9,828,631. Pre-market Friday price grows 15% to $51. Possibly, this market may double the daily volume.
The good news just came to Novavax’s stakeholders; the U.S. Department of Defense will finance $60 million a development of NVX‑CoV2373 which will go under mass production. DoD will test the vaccine in stage 2/3 clinical tests if the U.S. FDA approves it.
NVX‑CoV2373’s antibodies managed to stop the binding of spike protein to receptors in pre-clinical trials that were conducted by Novavax. Without being closely stuck onto receptors the virus can’t conquer the respiratory system. Therefore, weak protein covered virus soon may not survive inside the victim’s body. The immune system can neutralize COVID-19 slowly after it gets exhausted.