Novavax, Inc. (NASDAQ: NVAX) is having an incredibly strong start to the trading session this morning. However, if you’re looking for press releases or SEC filings that were issued today, you’re not going to find any. Nonetheless, there is a very good reason that the stock is making its way for the top. Today, we’ll talk about:
- Why NVAX is headed up;
- what we’re seeing from the stock; and
- what we’ll be watching for ahead.
Why NVAX Is Headed Up
As mentioned above, Novavax is having an incredibly strong start to the trading session this morning, but no news was released. So, what’s the deal? The gains are ultimately the result of news that was released late last week surrounding NanoFlu, the company’s seasonal influenza vaccine candidate.
In the release, the company said that data from the Phase 2 clinical trial confirmed the results of the Phase 1/2 trial of the treatment. Ultimately, the company demonstrated an improved immune response over Fluzone High-Dose.
NVAX also said that it intends on having the end-of-phase 2 meeting witht he FDA in the first half of 2019 with a goal of initiating a pivotal Phase 3 clinical trial before the end of 2019.
In a statement, Stanley C. Erck, President and CEO at NVAX, had the following to offer:
The Phase 2 clinical trial results with NanoFlu demonstrate the potential impact our vaccine can make in preventing serious disease caused by influenza in older adults, a high-risk population that has proven difficult to protect in recent years… Our goal remains to advance to the market an improved vaccine that addresses the serious global public health threat that exists for older adults, and ultimately to make NanoFlu available to all populations.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to Novavax, while the company hasn’t released any news today, the news issued late last week was overwhelmingly positive. This data, combined with the fact that ResVax data is expected soon as well, is leading to continued excitement. So, it’s not surprising to see that the stock is running for the top in the market today. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (11:16), NVAX is trading at $2.34 per share after a gain of $0.20 per share or 9.51% thus far today.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the iWatch Markets team will continue to keep a close eye on NVAX. In particular, we’re interested in following the continued development of both NanoFlu as well as ResVax. As mentioned above, we’re expecting to see ResVax data relatively soon. Keep in mind that ResVax has a bit of a chekcered past with a failed clinical trial a few years back. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the iWatch Markets mailing list below!