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Stock Alert: Novavax Falls 18%

(RTTNews) - Shares of Novavax, Inc. (NVAX) are currently losing nearly 18% on Tuesday morning.

NVAX is currently trading at $98.27, down $20.99 or 17.60%, on the Nasdaq.

On Monday, Novavax announced that the first volunteers have been enrolled in the phase 2 portion of its ongoing clinical trial to evaluate the immunogenicity and safety of NVX-CoV2373, the company's COVID-19 vaccine candidate.

In the phase 1 portion of the phase 1/2 clinical trial, conducted in Australia, NVX-CoV2373 was generally well-tolerated and elicited robust antibody responses numerically superior to that seen in human convalescent sera.

NVX-CoV2373 is a stable, prefusion protein made using proprietary nanoparticle technology and includes Novavax's proprietary Matrix-M adjuvant.

Meanwhile, AstraZeneca on Tuesday announced that it has started a clinical trial of a drug to help prevent and treat Covid-19, with the first volunteers already receiving doses.

The Phase I trial of AZD7442 will evaluate the safety, tolerability and of the durg. It will include up to 48 healthy participants in the UK aged 18 to 55 years.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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