(RTTNews) – Novavax Inc. (NVAX) shares rose more than 4% on Monday morning after the company announced a prior agreement with the Government of Canada for up to 76 million doses of NVX-CoV2373, Novavax’s COVID-19 vaccine.
The inventory has been between $3.54 and $189.40 over the next year and lately is at $112.90, an increase of $5.11 or 4.81% on Monday morning.
Novavax and Canada plan to finalize an advance purchase agreement in which Novavax would supply doses of NVX-CoV2373 to Canada beginning in the 2021 quarter.This acquisition agreement would be subject to Health Canada approval of the Novavax vaccine.
NVX-CoV2373 is recently undergoing several Phase 2 clinical trials. Phase 2 of the Phase 1/2 clinical trial to evaluate the protection and immunogenicity of NVX-CoV2373 began in August in the United States and Australia.
NVX-CoV2373 is a candidate vaccine designed from the genetic series of SARS-CoV-2, the COVID-19 disease virus.
NVX-CoV2373 was created using Novavax recombinant nanoparticle generation to generate an antigen derived from the complex protein (S) of coronavirus and comprises Novavax’s patented saponin-based Matrix-M adjuvant for immune reaction and stimulate maximum levels of neutralizing antibodies.