Novavax shot up on Friday after the biotechnology company announced Thursday that it had introduced a test 3 for its COVID-19 candidate vaccine in the UK.
Novavax, in partnership with the UK government’s Vaccine Working Group, will recruit up to 10,000 more people for trial over the next four to 6 weeks.
“Knowledge of this trial deserves regulatory offers for approval in the UK, EU and other countries,” Novavax said.
Investors are most likely to be more interested in successful advances in the COVID-19 vaccine after stocks were affected this week, in part due to a steady increase in COVID-19 instances worldwide.
If Novavax expands an effective candidate vaccine for COVID-19, it is able to produce billions of doses.
According to the company, it has continued to increase its production capacity and produce up to 2 billion annualized doses by mid-2021.
The company partnered with Endo International to help produce clinical vaccines under commercialization, he announced Friday.
Novavax shares rose 15% to $117. 35 in Friday’s operations. Novavax shares have risen 2474% since the beginning of the year, and investors expect Novavax to expand with a successful COVID-19 vaccine.