Novavax $1.5 Billion Dollar Loss
Thank you to Health Choice for sharing this article on their Facebook page. From CNBC, the business channel.
More than $1.5 billion vanished from vaccine developer Novavax's market value almost instantaneously Thursday afternoon after a late-stage trial of its vaccine for a common respiratory virus failed.
It's the worst nightmare of investors in biotech, but also a serious blow to public health. The company was trying to tackle a problem that's thwarted medicine for more than half a century.
RSV — or respiratory syncytial virus — is usually not a big deal for healthy people, but for two populations, babies and older adults, it can be extremely serious. According to the Centers for Disease Control and Prevention, RSV is the most common cause of pneumonia and another respiratory condition called bronchiolitis in babies under 1 year old in the U.S.
Each year it hospitalizes more than 50,000 kids under age 5, and leads to 14,000 deaths among adults older than 65. It was that older population in which Novavax ran its 11,000-patient study. Its vaccine failed to provide any protection, sending the stock down more than 80 percent.
"This has been a 30- or 40-year effort to get to where Novavax is, in terms of a candidate that goes into phase 3 trials," said Dr. Mark Feinberg, CEO of the International AIDS Vaccine Initiative, and former chief public health and science officer for Merck Vaccines, in a telephone interview Friday. "There's been a longstanding desire to have an RSV vaccine."
Read more.
Reading is Fundamental:
In the article it says that this vaccine was derailed in the 1960s when two infants died. -
So, You did not read the article?
Or
You just don't remember reading it?
Or
You just skipped over it since those babies died and did not get a chance of life - 55 whole long years ago and thus no longer deserve even a thought?
And just cause this vaccine killed a few infants - don't mean it would be bad for seniors.
Posted by: Benedetta | September 23, 2016 at 09:25 PM
More than $1.5 billion vanished from vaccine developer Novavax's market value almost instantaneously Thursday afternoon after a late-stage trial of its vaccine for a common respiratory virus failed.
*****************
Geez..... I wonder how often Novavax stock was sold short last week.
Posted by: Barry | September 23, 2016 at 08:22 PM
@ Researcher
Actually, go back to May 2016- looks like this 'fix' has been in for awhile.
http://www.schaeffersresearch.com/content/options/2016/05/25/novavax-inc-nvax-options-fly-off-the-shelves-after-fda-nod
phase 3 report/powerpt
http://novavax.com/presentation.show
CDC report about incidence
http://www.cdc.gov/mmwr/preview/mmwrhtml/mm6348a3.htm#Fig
Here's a thought- those in the know figured that the RSV vaccine being tested by Novavax was likely going to be a bust.
Posted by: flahute | September 23, 2016 at 03:43 PM
The Novavax phase 3 trial was in senior citizens.
Posted by: Reading Is Fundamental | September 23, 2016 at 02:27 PM
How would like to be the fool parent that signed up to have your baby receive this trial vaccine?
Just how horrible is that - two died in the study. Oh well, life goes on - and we will get that RSV vaccine some day soon.
Posted by: Benedetta | September 22, 2016 at 10:39 PM
For those interested in the folly of a vaccine for RSV (respiratory syncytial virus), but what actually kills many infants and seniors having RSV is iatrogenic poisoning by toxic medical protocols, please punch up this AoA Post by me on June 2, 2010. I spell out a singular example of the ideology of our medical system taken over by corruptness and arrogant authority - and destroys a "need" for yet another toxic vaccine.
http://www.ageofautism.com/2010/06/canada-knocks-out-flu-us-public-kept-in-the-dark.html
Also of extreme relevance are numerous authoritative studies citing sufficient levels of Vitamin D (the sunshine vitamin, or supplements) that greatly diminishes any lethal potential of RSV.
But, HEY! -- Somehow the Vaccine Industry et al. NEVER mentions anything about such as proper nutrition and/or the extreme toxicities of robotic/stupid/corrupt/criminal use of VERY toxic medicines such as the nucleoside analogue chemotherapy Ribavirin -- that is too toxic to even give cancer patients.
Posted by: david m burd | September 22, 2016 at 08:22 PM
I would suppose the RSV vaccine would become another “day of birth” vaccine
or perhaps given to the pregnant mother so her system can blend in “magic / supposed / RSV antibodies” into the three Billion DNA base pairs which creates the child...
How old a company is Novavax ??? The present goal of most of WALL STREET is to make piles of money disappear and end up in the pockets of five foot tall NYC mayors who demand flu shot mandates. .
Posted by: go Trump | September 22, 2016 at 07:20 PM
Oh, yes, something is VERY fishy.
Posted Thursday, September 22, 1:38 pm, Easter Standard Time
Novavax stock price up 10.8% following insider buying activity.
http://www.thecerbatgem.com/2016/09/22/novavax-inc-nvax-stock-price-up-10-8-following-insider-buying-activity.html
Posted by: Researcher | September 22, 2016 at 02:31 PM
So what's going on at Novavax that their researchers are actually ADMITTING that their vaccine failed in late stage trials?
If you examine every vaccine on the market today, they've all failed in one significant way or another, but then endpoints were changed, studies redesigned, data omitted and reinterpreted, and boom, suddenly their failed vaccines were reclassified as "lifesaving."
Something smells here. Why would they admit vaccine failure? Is Novavax about to be bought by one of the larger manufacturers? Or--??
Posted by: Researcher | September 22, 2016 at 02:28 PM
They learned that the RSV attack rate in infants doesn't apply to the elderly?
But this year the attack rate was also an outlier, they are sure?
And what have they done with this vaccine that makes them hopeful this one won't also increase risk for recipients? Or is it that they simply changed the recipient group. And of course, they won't recommend it for everyone once they can claim it looks "beneficial" for some.
Also, so comforting to know Merck and GSK are also working on this vaccine...if they had the same types of testing failures would it get any press?
Posted by: Jeannette Bishop | September 22, 2016 at 11:38 AM
"....More than $1.5 billion vanished from vaccine developer Novavax's market value almost instantaneously Thursday afternoon after a late-stage trial of its vaccine for a common respiratory virus failed.".... <-from the article above....
Now, **THINK**!....**WHERE** did that $$$$ *DISAPPEAR* *TO*....????....
Well, it disappeared back to where it magically appeared from, in the first place!
The U.S. Federal Reserve prints money literally out of thin air, and sells it, at interest-profit, to the U.S. Treasury, on behalf of the American people....So, it's ALL FUNNY MONEY!.... Why should I care that Novavax "lost" $1.5BILLION....????.... Why should anybody care?
Much of what we think of as "real" in the World, is in fact fantasy & delusion....
Posted by: Bill | September 22, 2016 at 09:18 AM
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Novavax shares wiped after PhIII RSV vaccine failure
http://www.fiercepharma.com/vaccines/novavax-shares-wiped-after-phiii-rsv-vaccine-failure?
Posted by: In the Know | September 22, 2016 at 08:50 AM