When it comes to its COVID-19 booster vaccine, Novavax (NVAX) is awaiting the FDA’s judgement on whether or not it will accept the original formula rather than a new variant-specific formula.
The business anticipates that the FDA will approve the booster as a choice for consumers who had different vaccines for their primary or prior booster doses. John Trizzino, the chief commercial officer, claims that.
Although Novamax has already been given the thumbs-up in other nations, the U.S. is still a slow market for the business. If the public health emergency is declared to be ended early next year, Trizzino said he anticipates things to perk up when the U.S. market opens for business.
At the World Vaccine Congress Europe in Barcelona, Trizzino told Yahoo Finance, “Frankly, we’re looking forward to that, because I think that’ll offer us more flexibility to communicate and educate about why this is a wonderful vaccine.”
Novavax has a better chance of increasing the use of its vaccine if clinicians rather than the US government make the decisions. To complement that, the business has expanded to a global presence of over 2,000 personnel and is developing regional commercial teams. Trizzino stated, “We’re currently approved in over 43 countries—and that doesn’t even include emergency listings.” The U.S. Department of Health and Human Services (HHS) has declared a new state of emergency and stated that it would give a 60-day notice before lifting the proclamation.
Trizzino thinks the financial community is still apprehensive of the company despite the growth and stability it has attained over the past year. Trizzino claimed that “the investment community is not seeing some of these characteristics.” “And we need to make sure that they are aware that we will hold a large portion of the market. The COVID market as a whole is estimated to be worth between $15 billion and $30 billion.”
upcoming pipeline
The business is already considering expanding its offering beyond the COVID-19 vaccinations. Phase 2 trials for a much-anticipated COVID-19 and flu combo vaccination are scheduled to commence at the beginning of 2024, according to Trizzino.Investors will need to have reduced expectations if they anticipate a short timescale.
Trizzino stated that because flu severity varies from year to year, the timing of the trial would be crucial in determining the kind of outcomes the company may anticipate. Novavax is now prepared to consider additional opportunities, such as acquiring early-stage businesses, aside from respiratory disorders.
We’re looking at other, as-yet-undisclosed pipeline possibilities that we believe will complement our technological foundation, he added. “Definitely considering the possibility of bringing in other assets. So, have a look at developing businesses that have other intriguing technologies.” The early uncertainty about the manufacturer’s purification standards for the vaccine, as well as the battle to increase capacity, are all things of the past, according to Trizzino.
Anyone who has worked in the biotech industry is aware that failures are more likely to teach you than victories,” he remarked. ‘We’ve learned a lot. We’ve devoted more than ten years in developing our platform technology for various diseases. Today, we’re in a stronger position and know more than we did five years ago,”
On the first day of the Covid vaccine development processes, there was no production capability because the company had just sold off its manufacturing assets following a failed RSV study. The business has since taken note of its Covid vaccine’s success.