Shares of Novavax (NVAX +15.2%) enjoy a modest bounce on average volume as money flow returns to the biotech sector today.
Yesterday, the company reported positive top-line results from its Phase 2 dose confirmation trial for its RSV vaccine. The primary endpoint was safety and immune response as measured by IgG-F antibody levels. The highest immune responses were observed in patients that received one dose of vaccine combined with aluminum phosphate adjuvant. No quantitative data were disclosed.
The company has requested a Type C meeting with the FDA for this summer to discuss the data and hopefully get the agency's go-ahead to proceed to a Phase 3 trial. Any FDA approval is easily two years away.