Novavax's New Vaccine Approach Set to Tackle Rising COVID-19 Emerging Variants
- Novavax Inc's (NASDAQ: NVAX) R&D chief Filip Dubovsky expressed confidence that the company's updated COVID-19 vaccine, already in production, will offer protection against the rapidly emerging coronavirus variants prevalent in the U.S.
- Novavax's protein-based vaccines, although slower to manufacture than the mRNA-based vaccines developed by Moderna Inc (NASDAQ: MRNA) and Pfizer Inc (NYSE: PFE)/BioNTech SE (NASDAQ: BNTX), are promising in targeting the evolving strains.
- In an annual general meeting, BioNTech's CEO and co-founder Ugur Sahin told shareholders the company is working on COVID-19 vaccines targeting XBB.1.5 strains.
- Last month, an advisory group for the World Health Organization said the current crop of shots should be updated to target the currently dominant XBB strains for the upcoming winter season.
- Recognizing the time-consuming nature of protein-based vaccine production, Novavax had previously announced the initiation of manufacturing a vaccine version aimed at combating the currently dominant XBB.1.5 variant on a commercial scale.
- In an interview, Dubovsky emphasized the effectiveness of the XBB.1.5-targeting vaccine, Reuters reported, asserting that it offers a solid approach while protecting related variants like XBB.2.3, which are becoming more prevalent.
- According to a Washington Post report, China is preparing for another wave of COVID-19 as the new XBB variant cases are rising.
- The new wave is expected to peak in June, and current estimates show that as many as 65 million people could be infected.
- Price Action: NVAX shares are down 1.58% at $7.73 during the premarket session on the last check Tuesday.
- Photo by Jernej Furman via Flickr
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Posted-In: Briefs COVID-19 Coronavirus COVID-19 VaccineBiotech News Health Care Small Cap General
