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Novavax testing vaccine that targets new COVID-19 variant -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A woman is holding a small glass bottle that bears a sticker indicating the “Coronavirus COVID-19 vaccine” and holds a medical needle in front of the Novavax logo. This image was taken on October 30, 2020. REUTERS/Dado Ruvic

(Reuters) – Novavax (NASDAQ:) Inc announced Friday that it was working to develop a COVID-19 vaccine for the South African variant. The shot will be ready for manufacturing and testing in the coming weeks.

COVID-19 contains a real version of the spike protein from the virus that can cause illness but triggers the immune system. A vaccine company claimed that it was working to develop a spike protein specific for the B.1.1.529 variant of the virus.

A spokesperson for the company said that “the initial work will require a few weeks.” Close to 9% of shares closed higher on Friday.

Novavax received an emergency approval for its vaccine earlier in the month, first in Indonesia and then later in the Philippines.

According to company officials, the company is expected to apply for U.S. approval in the next year. Additionally, it has applied for authorizations in Canada and the European Medicines Agency.

German drugmaker BioNTech SE (NASDAQ:) and Johnson & Johnson (NYSE:) have also said they were testing the effectiveness of their respective COVID-19 vaccines against the new variant.

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