Novavax (NASDAQ:NVAX) gains 7% premarket after signing term sheet agreement with the UK Government for the purchase of 60M doses of company’s COVID-19 vaccine, NVX-CoV2373 and a Phase 3 clinical trial to assess the efficacy of the vaccine in the UK population.
The late-stage trial expected to begin in Q3, will enroll ~9,000 adults 18-85 years of age in UK.
The company will also expand its collaboration with Fujifilm Diosynth Biotechnologies, which will manufacture the antigen component of NVX-CoV2373 from its Billingham, Stockton-on-Tees site in UK, in addition to its sites in North Carolina and Texas in U.S. The UK site is expected to produce up to 180M doses annually.
Novavax will supply vaccine doses as early as Q1 2021.
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