Novavax shares (NVAX) surged today on the news that its vaccine for respiratory syncytial virus (RSV) proved effective in a large midstage study that company officials billed as a "historic" achievement.
Long an elusive goal in development circles after inactivated vaccines proved dangerous in the '60s, Novavax is angling to launch a late-stage program for the RSV vaccine later in the year, company execs tell Bloomberg. And CEO Stanley Erck previewed the company's blockbuster commercial expectations with Reuters yesterday, telling the news service that it could be "the largest selling vaccine in the history of vaccines in terms of revenue."
"It could be a major breakthrough," Andrew Pavia, a spokesman for the Infectious Diseases Society of America, tells the AP. But he adds that these results need to be confirmed in Phase III before the celebrations can begin. "It's not time to break out the champagne."
Coming off a great day
The news about the drug’s trial was announced Monday afternoon, but that wasn’t the only good news that day. Monday also marked the release of Novavax’s latest earnings report, and the numbers looked positive. For one, the company posted an EPS that beat the Consensus Estimate by 11.11%. Also, Novavax crushed our revenue estimate of $10 million, reporting $14 in revenues for the quarter.
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