Novavax, Inc. (NASDAQ:NVAX) announced the initiation of a Phase 2 clinical trial of its respiratory syncytial virus F-protein nanoparticle vaccine candidate (RSV F Vaccine) in older adults (60 years of age and older).
The objective of the trial is to assess safety and immunogenicity to one and two dose regimens of the RSV F Vaccine, with and without aluminum phosphate or Novavax’ proprietary Matrix-M™ adjuvant, in older adults. The trial is a randomized, observer-blinded, placebo-controlled trial designed to enroll up to 300 older adults in the Southern Hemisphere. Participants are being enrolled and vaccinated outside of the RSV season to best assess immunogenicity. Top-line results are expected in the third quarter of 2017.
“We believe that a more immunogenic vaccine in the older adult population should translate into a more efficacious vaccine,” said Stanley C. Erck, President and CEO. “We expect the results from this trial to inform the next steps in our older adults program, and would ensure we maintain our leadership position in this very attractive market opportunity.”
Shares of Novavax are trading 2% higher in after-hours trading Thursday. NVAX has a 1-year high of $8.49 and a 1-year low of $1.16. The stock’s 50-day moving average is $1.35 and its 200-day moving average is $3.74.
On the ratings front, Novavax has been the subject of a number of recent research reports. In a report released yesterday, FBR analyst Vernon Bernardino reiterated a Buy rating on NVAX, with a price target of $12, which implies an upside of 751% from current levels. Separately, on January 12, Cantor’s William Tanner reiterated a Hold rating on the stock and has a price target of $2.00.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Vernon Bernardino and William Tanner have a yearly average loss of -19.9% and a return of 4% respectively. Bernardino has a success rate of 22% and is ranked #4289 out of 4355 analysts, while Tanner has a success rate of 57% and is ranked #1405.
Novavax, Inc. operates as a clinical-stage biopharmaceutical company, which engages in the provision of development of recombinant nanoparticle vaccines and adjuvants. Its product pipeline targets infectious diseases with vaccine candidates in clinical development for respiratory syncytial virus, seasonal influenza, pandemic influenza, and Ebola virus.