By Dhirendra Tripathi
Investing.com – Shares of Covid-19 vaccine makers like BioNTech (NASDAQ:BNTX) and Moderna (NASDAQ:MRNA) weakened on Monday on prospects of one more rival, Novavax (NASDAQ:NVAX), joining them in the market.
BioNTech slumped 9% and Moderna by 8%. Pfizer (NYSE:PFE), which makes and markets the vaccine in collaboration with BioNTech, fell 1.5%.
Johnson & Johnson (NYSE:JNJ), the only one with a single-dose vaccine, was down 0.5%. Novavax itself had a volatile session, giving up its gains of over 9% premarket to go into the red in the session underway.
The company today, in a premarket release, said a phase-three trial had found its two-dose Covid-19 vaccine to be 90.4% effective.
The trial had 29,960 participants across the U.S. and Mexico.
The vaccine was found to be 100% effective in preventing moderate and severe infections and 93% effective against some variants, Novavax said. The company plans to file for approval with the Food and Drug Administration in the third quarter.
Upon regulatory approvals, Novavax remains on track to reach manufacturing capacity of 100 million doses per month by the end of the third quarter and 150 million doses per month by the end of the fourth quarter of 2021, the company said in the release.