Shares of the clinical-stage vaccine-maker Novavax (NASDAQ: NVAX) gained as much as 18.2% today on sky-high volume. This noteworthy uptick was sparked by the anticipation surrounding the company's clinical update for its high-value respiratory syncytial virus (RSV) vaccine program scheduled for the close of trading today. Throughout the course of the session, however, the biotech's stock cooled off significantly, ultimately ending the day up only 2%.
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Despite a slew of updates that included a positive top-line data readout from its latest mid-stage trial of the RSV vaccine candidate in older adults, the company didn't deliver any Earth-shattering news to truly warrant a hefty spike in its share price. In fact, Novavax announced that it would commence yet another mid-stage trial in older adults in 2018. That's certainly a letdown, as investors were surely hoping to hear that a pivotal-stage trial was close at hand.
Source: Fool.com