NVAX stock slips despite positive early data for COVID-flu vaccine combo (NASDAQ: NVAX)

Influenza Vs.  Coronavirus - The Differences

CROCOTHERY / iStock via Getty Images

Commenting on the initial Phase 1/2 data released by Novavax (NASDAQ: NVAX) on Wednesday for its COVID-19-Influenza combination vaccine, HC Wainwright estimates that the company can target a market opportunity worth over $ 2 billion in annual sales with the protein-based shot.

The data announced at the World Vaccine Congress (WVC) in Washington, DC., Showed that the experimental vaccine, combining Novavax ‘(NVAX) COVID-19 vaccine, NVX-CoV2373 and its quadrivalent influenza vaccine candidate, was well-tolerated and immunogenic , according to the company.

“We see these results as a win-win for both the continued need for COVID-19 boosters and seasonal influenza,” the analyst Vernon Bernardino wrote, citing the unaddressed medical need, particularly among the elderly due to efficacy limits of current flu shots despite high vaccination rates.

According to the analyst, the CIC vaccine demonstrated a better immune response compared to the Fluzone High-Dose (HD), the market-leading seasonal flu shot developed by Sanofi (SNY) (OTCPK: SNYNF).

Citing the pre-pandemic sales of Sanofi’s (SNY) flu vaccines, Flublok, and Fluzone in 2019, the analyst predicts that the CIC vaccine can reach a blockbuster market opportunity worth over $ 2B in annual sales.

Without counting any contribution to the firm’s valuation model, HC Wainwright reiterates the Buy rating and $ 207 per share target on Novavax (NVAX).

Last year, early-stage data released by rival vaccine developer Moderna (MRNA) for its quadrivalent seasonal flu vaccine candidate, mRNA-1010, trailed expectations.

The Cambridge, Massachusetts-based biotech has also added a vaccine candidate that combines its mRNA-based COVID-19 vaccine and flu vaccine candidate.

CROCOTHERY / iStock via Getty Images Commenting on the initial Phase 1/2 data released by Novavax (NASDAQ: NVAX) on Wednesday for its COVID-19-Influenza combination vaccine, HC Wainwright estimates that the company can target a market opportunity worth over $ 2 billion in annual sales with the protein-based shot. The data announced at the World Vaccine…

Leave a Reply

Your email address will not be published.