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Novavax (NVAX) skyrockets on premarket due to vaccine development

Novavax is a preclinical biotechnology company. They announced on February 26 that they had several vaccine candidates in preclinical animal studies. Novavax plans to initiate Phase I clinical study by June. In March the company it had received $4 million from CEPI to develop a COVID-19 vaccine and that Emergent BioSolutions Inc. (EBS) would support contract development and manufacture for the experimental vaccine. “These strong Phase 3 results align with and validate our previous clinical trials, in which NanoFlu showed higher HAI antibody responses than the leading flu vaccine for older adults,” said Chief Executive Stanley Erck. “We expect that both Fast Track designation and the accelerated approval pathway from the FDA will help Novavax bring NanoFlu to market as quickly as possible to address the serious public health threat of influenza.”. The stock has nearly tripled (up 169%) over the past three months through Monday

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