Novavax Reports First Quarter 2021 Financial Results and Operational Highlights
- Significant progress in PREVENT-19 study; final data expected in the second quarter of 2021
- Initiated pediatric extension of PREVENT-19 in the U.S.
- Evaluating COVID-19 booster performance in U.S. and Australia Phase 2 and South Africa Phase 2b studies, as well as study with the University of Oxford
- Finalized APA with Gavi to supply 1.1 billion doses for the COVAX Facility
- Company to host conference call today at 4:30 p.m. ET
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GAITHERSBURG, Md., May 10, 2021 /PRNewswire/ Novavax, Inc. (NASDAQ: NVAX), a biotechnology company developing next-generation vaccines for serious infectious diseases, today announced its financial results and operational highlights for the first quarter ended March 31, 2021.
Novavax COVID-19 Vaccine (NVX-CoV2373) Description
Novavax COVID-19 vaccine (NVX-CoV2373) (Covovax) is a prefusion protein coronavirus vaccine candidate made using Novavax’s proprietary nanoparticle technology, Matrix-M, an adjuvant to enhance immune responses and stimulate high levels of neutralizing antibodies.
Novavax Inc. s NVX-CoV2373 vaccine candidate creates an engineered baculovirus containing a gene for a modified SARS-CoV-2 spike protein. The baculovirus then infects a culture of Sf9 moth cells, which create the spike protein and display it on their cell membranes. The spike proteins are then harvested and assembled onto a synthetic lipid nanoparticle about 50 nanometers across, each displaying up to 14 spike proteins.
February 2, 2021 Novavax has signed a memorandum of understanding with the Canadian government to produce the company s protein-based COVID-19 vaccine candidate, NVX-CoV2373, in Canada.
Novavax plans to produce NVX-CoV2373 at the National Research Council s Biologics Manufacturing Centre in Montreal after the candidate and the facility receive approval by Health Canada. The government previously agreed to purchase up to 76 million doses of NVX-CoV2373, which is undergoing rolling submission for regulatory approval by Health Canada.
The memorandum also includes the broader intention for the Canadian government and Novavax to work together to increase the company s presence in Canada. Together, they will explore partnership opportunities for Novavax to expand vaccine production in Canada, including utilizing Canadian contract manufacturers.