(CNBC) Phase 3 clinical trials of Novavax vaccine trials on a sample of 29,960 participants have confirmed it is safe and 90.4% effective.
Two-dose vaccine of Novavax was determined to be 100% effective in preventing moderate to severe forms of the coronavirus and 93% against the variants.
The phase 3 clinical trials were done on participants drawn from Mexico and the US.
Novavax plans to seek authorization from the US Food and Drug Administration in the third quarter.
The biotech firm aims to produce about 100 million doses of vaccine per month by the end of Q3 2021 and 150 million doses by Q4 2021.
The US is expected to use the Novavax doses to support inoculation in other countries given the abundance of vaccines in the country.
If approved, Novavax vaccine will be the third after those of Pfizer-BioNTech, Johnson & Johnson, and Moderna, which were all approved by FDA.
Novavax stock reacts to news. NVAX: NASDAQ is up +11.12%
