Novavax, Inc. (NASDAQ: NVAX)
Novavax, Inc. (NVAX), a clinical stage vaccine company made an announcement on Tuesday regarding positive top line data from their RSV F Vaccine Phase 1 clinical trial. RSV is the most common cause of lower respiratory tract infections and in the U.S is the leading cause of hospitalization of infants.
Novavax, Inc. CEO’s Comments
“Our RSV F Vaccine has now elicited a robust immune response in all three of our target populations: older adults, infants via maternal immunization and pediatrics. We are evaluating this data in the context of our RSV F Vaccine overall clinical development program and look forward to providing an update in the next several months on our path forward in the pediatric population,” said Stanley C. Erck, President and CEO. “It should not be lost on those interested in Novavax that this announcement is the fifth positive clinical trial readout provided during the third quarter of this year, a pivotal achievement for the Company made possible by the power of our recombinant nanoparticle platform technology and this dedicated and experienced team.” Globe Newswire
NVAX Technical Analysis
NVAX gapped up in price yesterday to $7.08, up from the prior day’s close of $6.41 which is a 10% increase in price based on favorable news. Taking a look at the daily chart, we can see the last time the stock traded above this price level was two days ago on September 28th, when the stock closed at $8.15. Taking a further look back on the daily chart, we can see the stock has been falling ever since it hit its 52 week high of $15.01 back on August 11th. It will be interesting to see if this news can reverse the trend down or if it’s just a dead cat bounce. The stock did reach pre market highs of $7.23 meaning that it gave back $0.15 at the open, equivalent to only a 2% drop. For trading purposes, my entry point would have been $7.15 with a possible add spot at the pre market high of $7.23. My stop loss would have been $7.00 fearing anything below that and the stock would start to fill in the gap up.
Novavax, Inc., a clinical-stage vaccine company, focuses on discovering, developing, and commercializing recombinant nanoparticle vaccines and adjuvants. The company produces its vaccines using its proprietary recombinant nanoparticle vaccine technology. Its product pipeline includes respiratory syncytial virus (RSV) vaccine candidates for elderly and maternal immunization that are in Phase II clinical trials, as well as pediatric respiratory syncytial virus candidate, which is in Phase I clinical trial; seasonal quadrivalent influenza and pandemic H7N9 vaccines, which are in Phase I clinical trials; vaccine candidate against Ebola Virus that is Phase I clinical trial, as well as combination respiratory vaccine candidate, which is pre-clinical trial; and seasonal influenza vaccine candidate that is Phase III clinical trial, as well as rabies G protein vaccine candidate, which is in Phase 1/2 clinical trial. The company also has pre-clinical stage programs for various infectious diseases, including the Middle East respiratory syndrome coronavirus; and develops technology for the production of immune stimulating saponin-based adjuvants. Novavax, Inc. has a clinical development agreement with PATH Vaccine Solutions to develop RSV vaccine candidate. The company was founded in 1987 and is headquartered in Gaithersburg, Maryland. Yahoo Finance