Novavax Surges on Vaccine Success Against Respiratory Disease
This article is for subscribers only.
Novavax Inc. surged the most in six years after its vaccine helped elderly patients in a mid-stage study fend off a potentially lethal respiratory virus.
The vaccine reduced the risk of the disease associated with lower respiratory infection by 46 percent when compared with a placebo in 1,600 patients aged 60 and older, according to a statement late Monday. The shares rose 24 percent to $13.89 at the close in New York on Tuesday, giving Novavax a market value of $3.75 billion.