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Markets News

Novavax ends Q3 with $334.2 mln cash ahead of U.S. trial of COVID-19 vaccine

Nov 9 (Reuters) - Novavax Inc said on Monday it ended the third quarter with $334.2 million in cash and cash equivalents, as the vaccine developer prepares to start a delayed U.S.-based late-stage trial of its COVID-19 vaccine candidate later this month.

Earlier in the day, the vaccine developer said it won the U.S. Food and Drug Administration’s “fast-track” status for its experimental coronavirus vaccine, NVX-CoV2373.

Novavax expects data from the trial could support U.S. authorization and approval. (Reporting by Mrinalika Roy in Bengaluru; Editing by Arun Koyyur)

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