Novavax, Inc. (NASDAQ:NVAX), a clinical-stage vaccine company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants, today announced the enrollment of the first participant in a global pivotal Phase 3 clinical trial, known as Prepare™, of its respiratory syncytial virus F-protein nanoparticle vaccine candidate (RSV F Vaccine) in healthy pregnant women.
The Prepare trial is a randomized, observer-blinded, placebo-controlled trial that utilizes a group sequential design, offering flexibility in trial size that is responsive to the rate of endpoint events and evolving evidence of efficacy while maintaining the trial’s blinding integrity. Thus, the eventual sample size may vary between 5,000 and 8,255 pregnant women over a period of two to four years. Participants are being vaccinated at a number of global clinical sites in advance of each region’s RSV season. Novavax previously announced it was awarded a grant up to $89 million from the Bill & Melinda Gates Foundation to support development of this RSV F Vaccine Phase 3 clinical trial in pregnant women.
The primary objective of the Prepare trial is to determine the efficacy of maternal immunization with the RSV F Vaccine against symptomatic RSV lower respiratory tract infection (LRTI) with hypoxemia in infants through the first 90 days of life. The trial’s objectives, endpoints and statistical approach were finalized following a recent End of Phase 2 meeting with the FDA. The results of a Phase 2 trial in pregnant women, as reported by Novavax in September 2015, provided the basis for the Phase 3 trial design, including the determination of anti-RSV antibody responses in mothers and antibody transfer from mothers to infants.
“We believe that maternal immunization offers the optimal way of protecting young infants, who are among the most susceptible populations to RSV disease. Initiation of this trial builds on our groundbreaking Phase 2 clinical data in this important population, and incorporates discussions with experts in the field and the FDA,” said Stanley C. Erck, President and CEO. “The initiation of our second pivotal Phase 3 trial this quarter, ahead of our guidance, demonstrates the ability of our team to execute along aggressive timelines.” (Original Source)
Shares of Novavax are up 4.72% to $8.65 in after-hours trading. NVAX has a 1-year high of $15.01 and a 1-year low of $5.23. The stock’s 50-day moving average is $7.43 and its 200-day moving average is $9.60.
On the ratings front, Novavax has been the subject of a number of recent research reports. In a report issued on September 29, Piper Jaffray analyst Edward Tenthoff maintained a Buy rating on NVAX. Separately, on August 11, J.P. Morgan’s Cory Kasimov reiterated a Buy rating on the stock and has a price target of $14.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Edward Tenthoff and Cory Kasimov have a total average return of 11.0% and 0.0% respectively. Tenthoff has a success rate of 54.3% and is ranked #370 out of 3642 analysts, while Kasimov has a success rate of 48.1% and is ranked #2283.
Novavax Inc is a clinical-stage vaccine company engaged in the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants.