Ladenburg Says No Need For Novavax To Rerun Failed Drug Study

Loading...
Loading...

Top-line Phase III data for Novavax, Inc’s NVAX RSV F nanoparticle vaccine for the prevention of RSV in the elderly was disappointing, Ladenburg’s Kevin DeGeeter said in a report. He downgraded the rating on the company from Buy to Neutral, and removed the price target.

Novavax presented top-line results from the Phase III RESOLVE study of its RSV F-protein vaccine in 11,856 adults age 60 years or older. Although the vaccine led to a reduction in symptomatic RSV infections, the result was not significant.

Related Link: Wedbush Answers "So, Now What?" For Novavax Shareholders

“Similarly, results from the 1,329-subject Phase IIb booster dose study in previously vaccinated elderly adults failed to show a reduction in moderate-to-severe RSV-associated lower respiratory tract infections,” analyst DeGeeter wrote.

Takeaways

DeGeeter enumerated three takeaways from the latest data release:

  • Good: Result was unambiguous
  • Bad: Current vaccine formulation and schedule are not active in elderly
  • Ugly: Results led to concerns over the role of palivizumab-like antibodies in preventing RSV

The results have “negative implications for an ongoing maternal vaccination study,” the analyst pointed out.

Novavax is expected to release data on palivizumab-like antibodies during its October 11 analyst day. DeGeeter wrote, “In short, we expect the data to suggest patients developed elevated palivizumab-like antibodies but did not achieve protection against RSV infections, which, in our view, would cast a cloud over mechanism of action for the ongoing study in maternal subjects.”

Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!

Loading...
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorBiotechDowngradesHealth CareAnalyst RatingsGeneralKevin DeGeeterLadenburg
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...