Welcome to our dedicated page for Novavax news (Ticker: NVAX), a resource for investors and traders seeking the latest updates and insights on Novavax stock.
Novavax Inc. (Nasdaq: NVAX) is a clinical-stage biotechnology company dedicated to developing vaccines to prevent infectious diseases. Based in Gaithersburg, Maryland, with facilities in Rockville, Maryland, and Uppsala, Sweden, Novavax employs over 300 professionals focused on innovation in vaccine development.
Novavax leverages its proprietary recombinant nanoparticle technology and Matrix-M™ adjuvant to create vaccines that stimulate strong immune responses. The company's product pipeline includes vaccine candidates for respiratory syncytial virus (RSV), seasonal influenza, pandemic influenza, and Ebola virus. Additionally, their pipeline includes preclinical programs targeting various infectious diseases.
Recently, Novavax has made significant strides in COVID-19 vaccine development. The company announced that its Nuvaxovid™ XBB.1.5 COVID-19 Vaccine (NVX-CoV2601) received Emergency Use Listing (EUL) from the World Health Organization (WHO). This listing expedites the regulatory approval process, enabling broader global distribution. The vaccine is also authorized in the U.S. and the European Union and is under review in other markets.
Novavax's updated COVID-19 vaccine can be stored at temperatures between 2 to 8 degrees Celsius and has a 12-month shelf life, simplifying logistics and reducing waste. This vaccine has shown efficacy against multiple variants, including BA.2.86, EG.5.1, and XBB.1.16.6.
In addition to their COVID-19 efforts, Novavax has entered a co-exclusive licensing agreement with Sanofi to enhance the distribution of their standalone adjuvanted COVID-19 vaccine and develop combination vaccines. This partnership highlights the company's commitment to leveraging its technology to address global health challenges.
Financially, Novavax has shown a strong performance with updated financial guidance for 2024. With over $1 billion in potential contract value for advance purchase agreements, Novavax is well-positioned to deliver on its commitments while focusing on expanding its product portfolio.
Overall, Novavax Inc. represents a significant player in the biotechnology sector, continuously pushing the boundaries of vaccine development to address pressing global health issues.
On December 20, 2022, Novavax (Nasdaq: NVAX) completed a $150 million offering of 5.00% Senior Convertible Notes due 2027, with an additional $25.25 million purchased by initial buyers. Also, a public offering of 7,475,000 shares of common stock raised $74.75 million. The combined gross proceeds from both offerings amount to $250 million. The Notes are convertible at $12.50 per share, representing a 25% conversion premium. Novavax estimates net proceeds of approximately $166.3 million from the Notes and $69.8 million from the stock offering, earmarked for corporate purposes.
Novavax, Inc. (Nasdaq: NVAX) announced a $150 million offering of 5.00% convertible senior notes due 2027, with an option for initial purchasers to buy an additional $25.25 million. The notes will accrue interest semi-annually and are redeemable post December 22, 2025. Concurrently, a public offering of 6,500,000 shares of common stock at $10.00 per share, totaling $65 million, has been priced. Proceeds will support global launches, operational costs, and R&D. Offerings are expected to close on December 20, 2022.
Novavax, Inc. (Nasdaq: NVAX) has announced the pricing of a public offering of 6,500,000 shares of common stock at $10.00 per share, raising approximately $65 million. The underwriters have a 30-day option to buy an additional 975,000 shares. Concurrently, Novavax priced $150 million in convertible senior notes due in 2027. The net proceeds will be used for general corporate purposes, including the global launch of Nuvaxovid and repaying outstanding senior notes. Both offerings are expected to close on December 20, 2022, subject to customary conditions.
Novavax, Inc. (Nasdaq: NVAX) announced a proposed underwritten public offering of up to $125 million in common stock, with an option for underwriters to purchase an additional $18.75 million. Concurrently, the company plans to offer $125 million in convertible senior notes due 2027, also with a $18.75 million additional option. The proceeds will be used for general corporate purposes, including the global launch of Nuvaxovid, working capital, R&D, and debt repayment.
Novavax, Inc. (Nasdaq: NVAX) announced a proposed offering of $125 million in convertible senior notes due 2027. These notes will be sold to qualified institutional buyers under Rule 144A. The company may also offer up to $125 million in common stock, with an additional $18.75 million option for both offerings. Proceeds will support general corporate purposes, including the launch of Nuvaxovid and repay existing convertible notes. The offering is not contingent on the other, and the financial terms will be set at pricing.
On December 7, 2022, Novavax, Inc. (Nasdaq: NVAX) announced that Health Canada has approved the Nuvaxovid COVID-19 Vaccine for use as a primary series for adolescents aged 12 to 17. This approval is based on data from the Phase 3 PREVENT-19 trial, demonstrating a clinical protective efficacy of 79.5%, particularly against the Delta variant. Nuvaxovid is already authorized in over 10 markets globally, including the U.S. and European Union. The vaccine will be manufactured in Montreal, with engineering runs completed and production of qualification batches expected to start in early 2023.
Novavax, Inc. (Nasdaq: NVAX), a biotechnology company focused on developing vaccines for infectious diseases, announced its participation in the BofA Securities 2022 Virtual Biotech SMID Cap Conference on December 7, 2022. The fireside chat will feature discussions on its recombinant nanoparticle protein-based COVID-19 vaccine candidate, NVX-CoV2373, from 9:10 – 9:35 a.m. EST. Novavax executives, including Chief Medical Officer Filip Dubovsky, will participate. A recording will be available on the company’s website for 90 days post-conference.
Novavax, Inc. (Nasdaq: NVAX) announced an updated Emergency Use Listing (EUL) from the WHO for its Nuvaxovid™ COVID-19 vaccine. This listing allows the vaccine to be used as a primary series for adolescents aged 12-17 and as a booster for adults 18 and older. Clinical data demonstrated Nuvaxovid's efficacy of 80% in adolescents during the Delta variant surge, with a low incidence of adverse reactions. The vaccine is authorized in over 10 markets, including the U.S. and EU, and the company continues trials for additional indications.
Novavax, Inc. (Nasdaq: NVAX) announced on Nov. 18, 2022, that Health Canada has granted expanded authorization for its COVID-19 vaccine, Nuvaxovid™, as a homologous booster for adults aged 18 and over. The authorization is based on Phase 2 and Phase 3 clinical trial data demonstrating increased immune responses comparable to earlier protections against COVID-19. Adverse reactions were generally mild to moderate, with injection site tenderness and fatigue being the most common. Nuvaxovid is now authorized in multiple countries, highlighting its global acceptance as a booster option.
Novavax, Inc. (Nasdaq: NVAX), focused on next-generation vaccines, will participate in the Jefferies London Healthcare Conference on November 16, 2022. Key discussions will center around NVX-CoV2373, its recombinant nanoparticle protein-based COVID-19 vaccine. The fireside chat is scheduled from 8:35 to 9:05 a.m. GMT in London. The company will also hold investor meetings from November 16 to 17. A replay of the session will be available on Novavax's website for 90 days post-conference.
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