Novavax Stock Skyrockets by 65% After Covid Vaccine Proves 90% Effective

Novavax (NVAX) stock soared high this friday shortly after announcing that its coronavirus vaccine was nearly 90% effective. The NVAX stock catapulted to about 65% which was roughly a 6-year high for the company. The experimental vaccine has currently surpassed its final phase test. It also claims to be effective against the U.K and South African variant of the virus, which puts it at the spotlight among investors.

According to Investors, the experimental vaccine was effective at precisely 89.3% and was to be completed with two shots. The results were published in a U.K study according to a press release by Novavax last thursday. Investors swiftly compared this to Johnson & Johnson's which was only 66% effective against the Coronavirus and was to be completed at one shot. Furthermore, the Johnson & Johnson vaccine was not tested agianst the U.K and South African mutation of the virus.

Novavax Claims Also Effective Against U.K and South African Variant, Causing NVAX stocks to Surge

The clinical test also revealed that Novavax was effective against the South African and U.K variant of the coronavirus. Novavax claims that they have been the first among others to provide protection from these variants.

Novavax Chief Executive Stanley Erck said in a released statement that the Novavax vaccine "has the potential to play an important role in solving this global health crisis."

Consequently, NVAX stock soared at 64.9% which is almost 220.94 on the stock market record.

Novavax had two kinds of study conducted both for the U.K and South Africa. The U.K test revealed that more than 50% of the respondents who were COVID positive had the new U.K Variant. On the other hand, more than 90% of those who were tested in South Africa had the South African variant of the virus.

Further analysis showed the Novavax vaccine was 95.6% effective at blocking the original strain of the virus that causes Covid-19. It was also 85.6% effective against the U.K. mutation. In an earlier-stage test, the vaccine was 60% effective against the South Africa variant.

NVAX stock Ranks Among Top 1% in Stock Market

As MarketSmith reports, shares of NVAX stock easily overtook a buy point at 150.60 in total. Its relative strength rating, which is the measure of the stock's performance in a span of 12 months on the other hand has a perfect 99. Out of all stocks, the NVAX stock ranked in the top 1%.

The Novavax vaccine uses a different method for their vaccines as compared to that of already authorized vaccines from Pfizer BioNTech and from Moderna. Both utilize the messenger RNA technology where the body's protein mechanism is being hijacked. On the other hand, Novavax's vaccine is protein-based.

This article is owned by Techtimes

Written by Nikki D