New Spanish plant Reig Jofre to produce J&J vaccine by end of Q2

0


Bloomberg

Novavax vaccine results will test 1190% surge in stocks

(Bloomberg) – The upcoming release of the results of Novavax Inc.’s Covid-19 vaccine trial could not only help bring further relief from the pandemic around the world, but also validate the support of investors who backed the 1190% stock over the past year. The biotech company said in March that its shot could be cleared by the Food and Drug Administration for emergency use as early as May. To meet its May target, Novavax may need to submit data to the FDA within the next week. It may take several weeks for regulators to review the results and decide whether or not to grant an authorization, based on the timelines of previous approvals of the Covid-19 vaccine in the U.S. If this materializes, the company will have the fourth Covid-19 vaccine in the United States in addition to shots by Pfizer Inc. with its German partner BioNTech SE, Moderna Inc. and Johnson & Johnson. Novavax representatives declined to comment on upcoming results and timing release of trial data.Novavax may have lost the race by vaccinating millions of Americans with more than 230 million doses administered in the United States, but a successful trial can still help developing countries like the United States. India and Brazil, where injections are in high demand as infections are reaching record levels. US President Joe Biden said on Tuesday that upcoming vaccines, including one from Novavax, could be shared with other countries. Shares of Novavax soared last summer when it became one of the pioneers in the race to develop a vaccination against the coronavirus. But since then, it has lagged behind the U.S. market leaders in both production and valuation. Moderna, which obtained emergency clearance in December, is now trading at around four times market value. of Novavax for about $ 17.6 billion, while BioNTech in Germany is worth $ 43 billion. CureVac NV, another vaccination prospect that has also been bolstered by its ties to Tesla Inc., has a valuation of around $ 21 billion. In a trial of 15,000 people in the UK, injecting Novavax was shown to be 89.7% effective in preventing symptoms of the disease. And with the rise of resistant variants, the bar for the next North American trial has been set lower, where an 80% efficiency would be a “knockout”, according to Sam Fazeli, an analyst at Bloomberg Intelligence. “What is very encouraging is the efficacy of 96.4% compared to previous versions of the virus and 86.3% against the variant B.1.1.7 prevalent in the UK – 57% of infections in the test. There were five severe cases of Covid-19 in the final analysis, suggesting that the vaccine has 100% efficacy similar to other vaccines being deployed, which is not surprising given its success against milder disease, ”Fazeli said. Thursday, after closing at a high of $ 319.93 in early February. The shares had six buy ratings, one hold and no sell recommendation among analysts tracked by Bloomberg. Expectations of further gains on the stock have increased pressure on short sellers who have more than $ 1.1 billion. bets in progress against the company as of April 29. according to data from S3 Partners. So far this year, Novavax short sellers have lost more than $ 800 million, according to Ihor Dusaniwsky, general manager of predictive analytics at S3. “The price force will likely force even more shorts out of their positions,” Dusaniwsky said in an interview. For more articles like this, please visit us at bloomberg.com Subscribe now to stay ahead with the most trusted source of business news. © 2021 Bloomberg LP



Source link

Leave A Reply

Your email address will not be published.