What's Going On With Novavax Shares?

Novavax, Inc. NVAX shares are trading higher by 6.80% to $20.26 going into the close of Wednesday's trading session after the company reported the results from its Phase 3 PREVENT-19 trial achieved its pre-specified endpoint and the results form its Study 307 met its primary endpoint.

What Happened?

Per a Wednesday morning press release by Novavax:

• PREVENT-19 data in both adults aged 18 and older and adolescents aged 12 through 17 showed the prototype Novavax COVID-19 vaccine (NVX-CoV2373) achieved its pre-specified immunologic endpoint
• Study 307 (Lot Consistency) achieved its primary endpoint, showing that three vaccine lots induced a comparable immune response thereby demonstrating the consistency of the manufacturing process
• A durable immunogenicity response was observed following primary vaccination as well as boosting which matched the levels previously associated with protection

"These data further demonstrate the consistent immunogenicity and safety profile of the Novavax COVID-19 vaccine as a booster, regardless of previous vaccine history," said Gregory M. Glenn, M.D., President of Research and Development, Novavax.

"These data are an early indication that our vaccine may be effective against variants such as Omicron. We have ongoing trials further exploring the Novavax COVID-19 vaccine's potential as an effective booster against these variants, including BA.4/5, and look forward to sharing these data," Glenn stated.

See Also: Why Pfizer Partner BioNTech SE Shares Are Trading Higher

According to data from Benzinga Pro, Novavax has a 52-week high of $236.50 and a 52-week low of $16.00.