Novavax (NVAX) reportedly plans to file for U.S. approval of its coronavirus vaccine candidate in December. NVAX stock wavered on the news.
Chief Executive Stanley Erck announced the company’s intentions in an interview with Czech daily Hospodarske Noviny published Thursday, according to Reuters. Novavax in May acquired a manufacturing facility in Bohumil, Czech Republic. There it plans to develop and manufacture some of its coronavirus vaccine candidate, NVX‑CoV2373.
NVAX stock seesawed between modest gains and losses in morning trading on the stock market today. In recent trades, it was down 1.7%, near 112.70.
NVAX stock has ridden the coronavirus vaccine wave, peaking at 189.40 on Aug. 5. It started the year near 4.50.
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The vaccine company didn’t immediately respond to a request to confirm the CEO’s reported statement.
On Monday, the Gaithersburg, Md.-based company said it has started enrolling volunteers for its Phase 2 clinical trials. This phase will include a higher proportion of participants over the age of 60, the company said. Phase 3, or final-phase, testing would be next.
Other vaccine makers already have begun Phase 3 vaccine trials. AstraZeneca (AZN) and partner University of Oxford were first, soon followed in late July by Moderna (MRNA) and the team of Pfizer (PFE) and BioNTech (BNTX).
AstraZeneca and Pfizer at least have said they hope to begin coronavirus vaccine production this year.
Novavax, as well, has said it plans to start deliveries in 2020. The company received up to $1.6 billion from Operation Warp Speed, the U.S. government effort to have 300 million coronavirus vaccine doses by January.
In addition, Novavax’s vaccine effort has received $388 million from the global Coalition for Epidemic Preparedness Innovations and $60 million from the U.S. Department of Defense.