Novavax Inc (NASDAQ:NVAX) said it enrolled the first participants to start clinical trials for its Covid-19 vaccine candidate.
The US biotech has developed NVX‑CoV2373, a protein to enhance immune responses and stimulate antibodies.
READ: Coronavirus: What’s happening in the labs of pharma companies worldwide
The first phase of clinical trials will be conducted in two parts: initially with 130 healthy participants in Australia aged between 18 to 59, then in another pool of individuals in a broader age range and geography.
Results of the first part are expected for July.
The trial is partly funded by the Coalition for Epidemic Preparedness Innovations (CEPI)
“The vaccine news has been the spark that was needed to push stock markets above and beyond month-long sideways ranges,” commented London Capital Group’s Jasper Lawler.
Shares surged 19% to US$54.79 in premarket trading.