Novavax shares rose after the company said it reached a deal with the U.K. to supply 60 million doses of its potential coronavirus vaccine.
Novavax did not disclose the financial terms of the agreement. As part of the deal, the U.K. will collaborate with the company on its phase three clinical trial, which is expected to begin during this quarter.
The potential vaccine, named NVX-CoV2373, will be tested on around 9,000 adults between ages 18 and 85, the company said."We are honored to partner with the UK government to deliver a vaccine that could provide vital protection in the fight against the global health crisis," Novavax CEO Stanley Erck said in a release Friday. "Our Phase 3 clinical trial in the UK will be a critical component to assess the efficacy of NVX-CoV2373, which in a Phase 1 trial has already demonstrated to be generally well-tolerated and to elicit robust antibody responses." The company already has a deal with the U.S. government. Last month, the Trump administration's Operation Warp Speed initiative to develop and manufacture the potential vaccine, with the aim of delivering 100 million doses by the beginning of next year. Novavax's vaccine contains synthesized pieces of the surface protein the coronavirus uses to infect humans.in an early-stage clinical trial with 131 healthy participants. The vaccine produced neutralizing antibodies, which researchers believe are necessary to build immunity to the virus, and killer T-cells, the company said. Additionally, the vaccine appeared to be well tolerated with no serious adverse events reported.
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