Novavax Inc. released more extensive data on its Phase 1 trial of a vaccine for COVID-19 Wednesday, and shares rose about 4% in after-hours trading.
Novavax previously released findings from the study that said the vaccine candidate induced immune responses and was well-tolerated, but more more data from the study was published Wednesday in The New England Journal of Medicine.
“The rapid publication of Phase 1 results from our trial in a prestigious peer-reviewed journal reflects both the importance of the data and the urgent need for an effective vaccine to slow the COVID-19 pandemic,” Novavax’s president of research and development, Gregory Glenn, said in a news release.
After closing with a 2.1% decline at $102.90 in Wednesday’s regular session, shares topped $107 in after-hours trading following release of the information.
Novavax is one of at least 23 companies working on solutions to COVID-19 amid a global pandemic. Novavax shares have gained nearly 2,500% so far this year.