Novavax initiates PREVENT-19 efficacy trial of COVID-19 vaccine in USA and Mexico

US clinical-stage biotech Novavax (Nasdaq: NVAX) closed down almost 10% at $116.85 yesterday, despite announcing initiation of PREVENT-19, its pivotal Phase III study in the USA and Mexico to evaluate the efficacy, safety and immunogenicity of NVX-CoV2373, the company’s COVID-19 vaccine candidate.

The trial builds on research from Phase I/II studies demonstrating that the vaccine provoked a robust immune response, generated highly neutralizing antibodies against the virus and was generally well-tolerated.

“With the COVID-19 pandemic raging around the globe, this trial is a critical step in building the global portfolio of safe and effective vaccines to protect the world’s population,” said Stanley Erck, president and chief executive of Novavax.