Next up vaccine giant Novavax. As most would know by now, the company has been making headlines this year. Mainly, this is because its COVID-19 vaccine candidate achieved an 89.3% efficacy in its U.K. phase 3 trial. Since that January 28 announcement, NVAX stock has more than doubled in value. Significantly, Novavax's vaccine stands out because of its clinical effectiveness against the new U.K. and South African variants of COVID-19. Since then, the company continues to provide major updates which seem to be fueling investor interest in NVAX stock further.
On February 4, Novavax announced that it would start the regulatory approval process for authorization by multiple agencies. These include the U.S. FDA, European Medicines Agency, U.K. Medicines, and Health Regulatory Agency, and Health Canada. Despite only providing non-clinical and early clinical study data, Novavax is working to accelerate the review process.
In turn, this would bring its vaccine candidate closer to market. Even as it works towards regulatory approval, Novavax is already in talks with several countries to produce or supply its vaccine. The likes of which include, Canada, Switzerland, and most recently South Korea. In particular, the company announced an expansion of its existing vaccine manufacturing operations with South Korea-based SK Biosciences last Monday. Could this make NVAX stock a top health care stock to watch? You tell me.
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Vir Biotechnology Inc.
Another health care stock in focus now would be Vir. In brief, it is a clinical-stage biotech company that focuses on developing treatments for serious infectious diseases. Through a combination of immunologic insights and cutting-edge technologies, Vir can do so. To elaborate, Vir has established several technology platforms that work to stimulate and enhance the immune system. More importantly, VIR stock saw gains of over 18% yesterday as it announced some major news regarding its developmental pipeline.
Before yesterday's opening bell, Vir revealed that it would be expanding its coronavirus collaboration with GlaxoSmithKline ( NYSE: GSK ). To begin with, GSK is a global pharmaceutical company that researches and manufactures consumer health care products. The duo has been working together since April 2020 to research and develop solutions for coronaviruses.
In this latest expansion, both companies will widen the scope of research to include influenza (flu) and other respiratory diseases. Accordingly, investors could see this as Vir investing in long-term issues. With the flu causing half a million hospitalizations in the U.S. each year, this could translate to long-term growth potential for the company. Do you think this extends to VIR stock as well?
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