Novavax says their Covid vaccine is 90 percent effective

Biotech firm Novavax said Monday its Covid-19 vaccine was proved to be safe and 90.4 percent effective overall in phase three clinical study of approximately 30,000 individuals in the United States and Mexico.

The two-dose vaccine was also proven to be 100 percent efficient in avoiding moderate and severe sickness, as well as 93 percent effective against specific variations, according to the report. In the third quarter, the company aims to submit an application to the Food and Drug Administration for approval.

New vaccines and new experiences

Dr. Gregory Glenn, Novavax’s president of research and development, said in a news release that the late-stage trial “confirms that NVX-CoV2373 has a favourable tolerability and safety profile.” These findings reveal constant, high levels of efficiency and underline the vaccine’s potential to prevent COVID-19 despite the virus’s continuous genomic development.

In premarket trading, the company’s stock increased by more than 9%. During the intraday trade, the stock was up around 1%.

Given the number of vaccines available in the United States, the government may decide to distribute Novavax doses to other countries.

Novavax CEO Stanley Erck told CNBC that the business expects a significant market for booster shots in the United States. This is because, after 6 to 12 months, researchers are starting to notice a decline in antibody levels, he explained.

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During a Monday interview with “Squawk on the Street,” he stated that “it’s evident that we’re all going to require one boost and then maybe on a yearly basis or for some term.”

The company’s investigation looked at 77 confirmed Covid infections among the 29,960 people who took part in the trial. According to Novavax, 63 cases of Covid were found in the placebo group, compared to 14 occurrences in the two-dose vaccine group. According to the study, this resulted in a vaccine efficacy of 90.4 percent.

Biden’s government and the well-being of the people in Covid19

The new information comes as federal officials claim that the United States has more than enough Covid vaccine doses to vaccinate the entire American population. According to figures gathered by the Centers for Disease Control and Prevention, more than 173 million Americans had received at least one dose of the Covid-19 vaccination as of Sunday.

The Biden administration has already pledged to provide at least 20 million doses of Covid vaccinations manufactured by Pfizer-BioNTech, Moderna, and J&J, as well as 60 million doses of AstraZeneca’s vaccine, which has not yet been approved for use in the United States.

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The White House said earlier this month that limits imposed by the Defense Production Act, which granted the United States preference for vaccines developed by AstraZeneca, Sanofi, and Novavax, would be lifted.

Erck said Monday that the company’s vaccine supply in the United States may be diverted to COVAX, the World Health Organization-backed immunization program, and locations like India, where the virus is spreading rapidly.

Novavax said on Monday that it expects to have a monthly manufacturing capacity of 100 million doses by the end of the third quarter and 150 million doses by the fourth quarter of 2021.