Novavax begins trialling Covid-19 vaccine in Australia

(Sharecast News) - Biotechnology firm Novavax has begun trialling a Covid-19 vaccine candidate in Australia as it hopes to release a proven vaccine by the end of 2020.
Novavax will inject the vaccine into 131 volunteers as part of its first phase trial on testing the safety and efficacy of the vaccine.

"We are in parallel making doses, making vaccine in anticipation that we'll be able to show it's working and be able to start deploying it by the end of this year," said Novavax's research chief Dr Gregory Glenn.

The group noted that animal testing had indicated that the vaccine was effective in low doses and also highlighted that it would be able to manufacture at least 100m doses before the year's end.

Novavax noted that the results of its first phase trials in Melbourne and Brisbane were expected to be published in July.

As of 1120 BST, Novavax shares had surged 15.44% in pre-market trading to $53.23 each. Year-to-date, the company's shares had already risen by nearly tenfold, giving it a market capitalisation of approximately $2.67bn.