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    NVAX   US6700024010

NOVAVAX, INC.

(NVAX)
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Novavax developing vaccine that targets new COVID-19 variant

11/26/2021 | 06:04pm EST

Nov 26 (Reuters) - Novavax Inc said on Friday it had started working on a version of its COVID-19 vaccine to target the variant detected in South Africa and would have the shot ready for testing and manufacturing in the next few weeks.

The company's COVID-19 shot contains an actual version of the virus' spike protein that cannot cause disease but can trigger the immune system. The vaccine developer said it had started developing a spike protein specifically based on the known genetic sequence of the variant, B.1.1.529.

"The initial work will take a few weeks," a company spokesperson said. Shares of the company closed up nearly 9% on Friday.

Novavax's vaccine received its first emergency use approval earlier this month in Indonesia followed by the Philippines.

The company has said it is on track to file for U.S. approval by the end of the year. It has also filed for approvals with the European Medicines Agency as well as in Canada.

Other vaccine developers, including Germany's BioNTech SE and Johnson & Johnson, have said they are testing the effectiveness of their shots against the new variant, which is named Omicron by the World Health Organisation.

Inovio Pharmaceuticals Inc said it had begun testing its vaccine candidate, INO-4800, to evaluate its effectiveness against the new variant. The company expects the testing to take about two weeks.

Inovio also said it was simultaneously designing a new vaccine candidate that specifically targeted Omicron.

"Best case scenario, INO-4800 ... will be completely resilient against omicron, but if that's not the case then we will have a newly designed vaccine ready to go if need be," said Kate Broderick, senior vice president of Inovio's R&D division.

Earlier this month, Inovio resumed a late-stage trial of its vaccine in the United States after 14 months on clinical hold.

(Reporting by Manojna Maddipatla and Mrinalika Roy in Bengaluru; Editing by Anil D'Silva)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
INOVIO PHARMACEUTICALS, INC. -4.39% 3.92 Delayed Quote.-21.44%
NOVAVAX, INC. -6.32% 84.65 Delayed Quote.-40.83%
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Financials (USD)
Sales 2021 1 378 M - -
Net income 2021 -919 M - -
Net cash 2021 756 M - -
P/E ratio 2021 -6,88x
Yield 2021 -
Capitalization 6 400 M 6 400 M -
EV / Sales 2021 4,10x
EV / Sales 2022 1,10x
Nbr of Employees 792
Free-Float -
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Mean consensus OUTPERFORM
Number of Analysts 6
Last Close Price 84,65 $
Average target price 270,00 $
Spread / Average Target 219%
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Managers and Directors
Stanley C. Erck President, Chief Executive Officer & Director
James Patrick Kelly Chief Financial Officer, Treasurer & Executive VP
James F. Young Chairman
Gregory M. Glenn President-Research & Development
Biegie Lee Chief Information Officer & Senior Vice President
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