Novavax shares skyrocketed after the company’s latest study into its flu vaccine offered promising results. The company’s vaccine for flu, NanoFlu, generated stronger results when compared to the standard vaccines that are currently available.
The Gaithersburg, Maryland-based company had a tumultuous journey throughout 2017 after it witnessed a dramatic failure of its closely watched vaccine for respiratory infection. Though the company officials were quite confident about its success, investors started losing faith in this stock over rising concerns of its sustainability. This soon led way to takeover rumors.
NanoFlu has now forced investors to change their opinion about this company.
Novavax claims that NanoFlu was almost 47-64% more effective against different strains of the nastiest H3N2, when compared to the standard flu vaccines.
Rivals Sanofi and GlaxoSmithKline have already developed their own flu vaccines and have started marketing them. However, Novavax claims that NanoFlu was almost 47-64% more effective against different strains of the nastiest H3N2, when compared to the standard flu vaccines. This marks a big achievement for Novavax, because several articles from various medical journals have highlighted how the other vaccines have been less effective against the swine flu virus.
If NanoFlu hits the right targets, investors may eventually see buyout rumors fading. The company plans to kick-start its Phase 2 trial for NanoFlu vaccine during the third quarter of this year.