Novavax skyrockets 23% after saying its COVID-19 vaccine showed promising results in an early trial (NVAX)

Andrew Caballero-Reynolds/AFP

  • On Tuesday, Novavax announced that its COVID-19 vaccine “elicited robust antibody responses” in an early stage clinical trial.
  • Shares of Novavax surged 23% in premarket trading Wednesday. 
  • The trial included 131 healthy adults between the ages of 18 and 59. It was conducted across two sites in Australia. 
  • Watch Novavax trade live on Markets Insider. 
  • Read more on Business Insider.

Shares of Novavax surged as much as 23% in premarket trading Wednesday after the company announced that an early stage clinical trial of its COVID-19 vaccine produced promising results. 

The trial included 131 healthy adults between 18 and 59, and was conducted across two sites in Australia, the company said. Novavax’s COVID-19 vaccine, NVX-CoV2373, “was generally well-tolerated and elicited robust antibody responses,” the company said Tuesday.

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The vaccine produced neutralizing antibodies in all patients that received it with mild side effects, the study found. Those who received two shots of the vaccine plus a shot of adjuvant, an ingredient designed to boost immune response, had neutralizing antibody levels that were roughly four times higher than those seen in a group of patients who had recovered from COVID-19. 

Novavax is one of many companies including Pfizer and Moderna that are racing to produce a COVID-19 vaccine. 

Shares of Novavax have surged more than 4,700% year-to-date. 

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