As Sanofi SA (NASDAQ:SNY) and GlaxoSmithKline Plc's (NYSE:GSK) COVID-19 vaccine finally heads to regulators, another shot using GSK's pandemic adjuvant has won its first global approval.

• Mitsubishi Tanabe Pharma Corporation-backed Medicago's recombinant COVID-19 vaccine, dubbed Covifenz, has snagged a green light in Canada in individuals 18 to 64 years of age.
• The vaccine uses a plant-based virus-like particles technology to mimic the coronavirus' spike protein and is combined with GSK's pandemic adjuvant.
• Covifenz marks the first approved vaccine for Medicago and the first nod for a COVID shot using GSK's pandemic adjuvant.
• Related: Medicago, GSK's Plant-Based COVID-19 Vaccine Candidate Hits 75% Efficacy Against Delta Strain.
• In a Phase 3 trial conducted in more than 24,000 adults, Covifenz showed a 71% efficacy against COVID-19 by various SARS-CoV-2 variants, though not omicron because the now-dominant variant wasn't present at the time of the study.
• The virus-like particles platform allows Covifenz to be stored at normal refrigeration conditions from 2 degrees Celsius to 8 degrees Celsius. Two doses of the vaccine are given intramuscularly 21 days apart.
• Also See: Sanofi-GSK Prepare Regulatory Filings For COVID-19 Vaccine After Booster Data.
• Price Action: GSK shares are up 1.53% at $41.82 during the premarket session on the last check Friday.