- HC Wainwright says safety concerns were noted for Novavax Inc's (NASDAQ:NVAX) COVID-19 vaccine, but the strength of data showed that benefit outweighs risks.
- With a 21-0 vote (one abstention) for Emergency Use Authorization (EUA), moved the first traditional, protein-based COVID-19 vaccine closer to becoming available in the U.S.
- HC Wainwright believes six cases of heart inflammation observed in clinical studies are notable. The VRBPAC did not conclude that it was a risk that outweighed the benefits.
- As experience with the shot is limited, long-term safety remains to be established, and the analysts acknowledge that a causal relationship between myocarditis/pericarditis and vaccination needs further study.
- Also Read: Why This Novavax Analyst Remains Bearish After COVID Vaccine Panel Vote.
- Incidences of myocarditis/pericarditis ranging as high as 97.3 per million doses administered have been observed by the CDC for currently authorized COVID-19 vaccines from Pfizer Inc (NYSE:PFE) / BioNTech SE (NASDAQ:BNTX) and Moderna Inc (NASDAQ:MRNA).
- "We believe the option to have a vaccine available that does not use messenger RNA (mRNA) technology is underappreciated," the analysts write.
- It reaffirms projections of $4.4 billion and $5.8 billion in global sales in 2022 and 2023, respectively, and reiterates a Buy rating and a price target of $207.
- Price Action: NVAX shares are up 8.25% at $51.46 during the market session on the last check Wednesday.
- Photo by hakan german from Pixabay
