Novavax says Covid vaccine is more than 89% effective

Novavax says Covid vaccine is more than 89% effective

Dr. Sonia Macieiewski (R) and Dr. Nita Patel, Director of Antibody discovery and Vaccine development, look at a sample of a respiratory virus at Novavax labs in Rockville, Maryland on March 20, 2020, one of the labs developing a vaccine for the coronavirus, COVID-19.

Andrew Caballero-Reynolds | AFP | Getty Images

Biotech firm Novavax said Thursday that its coronavirus vaccine was more than 89% effective in protecting against Covid-19 in its phase three clinical trial conducted in the United Kingdom.

The results were based on 62 confirmed Covid-19 infections among the trial’s 15,000 participants. The company said 56 cases were observed in the placebo group versus 6 cases observed in the group that received its vaccine. That resulted in an estimated vaccine efficacy of 89.3%, it said.

Shares of the company were down more than 14% in after-hours trading.

With the results, the company “has the potential to play an important role in solving this global public health crisis,” Novavax CEO Stanley Erck said in a statement. “We look forward to continuing to work with our partners, collaborators, investigators and regulators around the world to make the vaccine available as quickly as possible.”

This is a developing story. Please check back for updates.

This article is auto-generated by Algorithm Source: www.cnbc.com

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