Novavax (NASDAQ: NVAX) stock has continued to fall in recent two weeks, but still rose by 42% so far this year. However, the latest news about the company is confusing for investors.
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Currently, investors are still most concerned the new progress about the company's Covid-19 vaccine candidate product. The company said Monday that a phase 3 trial in the U.K. that demonstrated 100% protection against severe disease, efficacy of 96.4% against the original virus strain, 86.3% against the B.1.1.7/501Y.V1 variant and 89.7% overall. A phase 2b trial in South Africa that demonstrated 100% protection against severe disease and 48.6% efficacy against a newly emerging escape variant first described in South Africa. The company also said it has secured additional manufacturing and supply agreements, expanding its global supply chain to over 10 countries.
However, the company announced on its quarterly earnings call that it is unlikely to seek emergency use authorization for its experimental coronavirus vaccine in the United States until July at the earliest. The company expected to complete applications for authorization in the United States, the United Kingdom and Europe in the third quarter.
This may be another long story for investors. The company reported a net loss of $223 million for the first quarter, an increase of 758% YoY, and mostly used in research and development. If the company’s vaccine will not be available until the second half of the year, its stock will take pressure during the period.
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