Why Novavax Shares Are Rising Today

Novavax Inc NVAX is trading higher Monday after the company announced it filed for emergency use of its COVID-19 vaccine in the United Arab Emirates.

Novavax submitted NVX-CoV2373, the company's recombinant nanoparticle protein-based COVID-19 vaccine with Matrix-M adjuvant, for authorization.

The filing includes clinical data from two pivotal Phase 3 clinical trials:

The first, PREVENT-19, included 30,000 participants in the U.S. and Mexico and demonstrated 100% protection against moderate and severe disease, 93.2% efficacy against the predominantly circulating variants of concern and variants of interest and 90.4% efficacy overall.

There was also a trial of 15,000 participants in the U.K. that demonstrated efficacy of 96.4% against the original virus strain, 86.3% against the alpha variant and 89.7% efficacy overall.

"The rapid emergence and continued spread of variants is a stark reminder that no one is safe until everyone is safe in the fight against COVID-19," said Stanley Erck, President and CEO of Novavax.

From Last Week: Novavax Stock Climbs Back Into Pattern On Vaccine News

Novavax is a biotechnology company that develops vaccines. The company works in the clinical stage of development with a focus on delivering novel products that prevent a broad range of diseases.

NVAX Price Action: Novavax has traded as high as $331.68 and as low as $107.08 over a 52-week period.

The stock was up 3.19% at $171.93 at time of publication.

Photo: Maryland GovPics from Flickr.