Ladenburg Says No Need For Novavax To Rerun Failed Drug Study
Top-line Phase III data for Novavax, Inc’s (NASDAQ: 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.
“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.
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 firstname.lastname@example.org with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!
Latest Ratings for NVAX
|Dec 2016||Cantor Fitzgerald||Initiates Coverage On||Neutral|
|Sep 2016||Chardan Capital||Maintains||Neutral|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.