Pursuits
Novavax Falls as Respiratory Vaccine Results Don't Impress
- Company was Tuesday's worst performer on Nasdaq Biotech Index
- Infant antibody levels may not be high enough, Piper says
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Novavax Inc. was Tuesday’s worst performer on the Nasdaq Biotechnology Index as data from a mid-stage trial on the company’s respiratory vaccine failed to impress investors.
Shares of the vaccine maker fell 21 percent to $6.41 at the close in New York, the biggest decline since May 2009. While the 143-member Nasdaq Biotechnology Index has fallen for the past week and tumbled 6 percent on Monday, those losses slowed Tuesday, with the index down less than 1 percent.