In the last trading session, the stock price of Novavax, Inc. (NASDAQ:NVAX) declined more than 2% to close the day at $2.33. The decline came at a share volume of 9.54 million compared to average share volume of 12.66 million. Post the recent decline, the market cap of firm was noted at $730.73 million.
In the month of December 2017, Novavax reported that it will continue the Phase 3 study of its RSV F Vaccine for infants using maternal immunization. The company also posted an update on NanoFlu™. In the same press release, Stanley C. Erck, the CEO and President, reported that the company has completed an informational assessment of its Phase 3 study of the RSV F Vaccine for infants using maternal immunization taking threshold criteria for a commercial offering.
As a result, they are accelerating their Phase 3 trial registration into 2018. Their maternal immunization plan is supported by a grant of an $89 million from the Bill & Melinda Gates Foundation. In addition, the program has received Fast Track designation from the U.S. FDA.
The CEO of Novavax added that they have enrolled more than 3,000 subjects to date and anticipate that the existing pace of enrollment would result in an interim assessment in mid-2018, with an anticipated Phase III primary objective readout in next year. This timing would enable them to file a biologics license application by the close of 2019.
Greg Glenn, M.D., who is President, R&D at Novavax, expressed that recent data posted presents a challenge as well as opportunity for their NanoFlu Vaccine program. They have the unique prospect to determine whether the company’s NanoFlu vaccine can resolve the issue of egg-adapted virus mismatch. The team can also assess whether their vaccine-induced antibodies can offset circulating viruses with antigenic drift in people, as they showcased in their ferret trial earlier in 2017.