Novavax, Inc. (NASDAQ:NVAX) shares are trading higher by 9.8% at $230.25 Monday morning after the company announced positive Phase 3 trial results for its COVID-19 vaccine.
According to Novavax, its COVID-19 vaccine has 93% efficacy against predominantly circulating variants of concern and variants of interest and 91% efficacy in high-risk populations.
Novavax is a biotechnology company that develops vaccines. The company works in the clinical stage of development with a focus on delivering novel products that prevent a broad range of diseases.
Novavax works together with its wholly owned Swedish subsidiary to produce vaccine candidates to respond to both known and emerging disease threats.
