Why Novavax and Endo International Stocks Are Rising Today

Novavax (NASDAQ: NVAX), a biotech company that is developing a vaccine for COVID-19, and Endo International (NASDAQ: ENDP), a pharmaceutical company, are both rising sharply on the stock market on Friday. As of 11:32 a.m. EDT today, shares of Novavax are up by 11.6%, while Endo International's stock is up by 5.8%.

Why are both companies rising recording nice gains today? First, after the closing of yesterday's trading session, Novavax announced it was initiating a phase 3 clinical trial in partnership with the U.K. government for its coronavirus vaccine candidate, NVX-CoV2373. The study will take place in the U.K. and will enroll up to 10,000 participants. It will test the safety, efficacy, and immunogenicity (the ability to trigger an immune response in the body) of NVX-CoV2373.

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Source Fool.com