Why Novavax Stock Is Soaring Today
Shares of Novavax (NASDAQ: NVAX), a developmental-stage vaccine company, are gearing up for a potentially monstrous day today. In early pre-market trading Tuesday moring, the biotech's shares were already up by a healthy 42.1% in response to a positive late-stage data readout for its experimental flu vaccine NanoFlu.
The company reported that NanoFlu met the trial's primary endpoints across all four flu strains examined in adults aged 65 or older, and it exhibited a safety profile comparable to Sanofi's Fluzone Quadrivalent, a U.S.-licensed quadrivalent influenza vaccine. Novavax thus plans on approaching the U.S. Food and Drug Administration (FDA) about an accelerated regulatory filing for the vaccine later this year.
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Source Fool.com
