Novavax, Inc. (NASDAQ:NVAX), Biogen Idec Inc. (NASDAQ:BIIB) – Novavax Appoints New CFO Amid Inordinate Delay In COVID-19 Vaccine Authorization

Novavax, Inc. (NASDAQ:NVAX), Biogen Idec Inc. (NASDAQ:BIIB) - Novavax Appoints New CFO Amid Inordinate Delay In COVID-19 Vaccine Authorization

Novavax, Inc. (NASDAQ: NVAX) introduced new hires to its government group whilst it’s stymied by the delay in getting authorization for its COVID-19 vaccine within the U.S.

What Occurred: Novavax introduced Monday it has appointed biopharma business veteran Jim Kelly as government vp, CFO and treasurer.

The CFO position was held on an interim foundation by John Trizzino, Novavax’s chief industrial officer and chief enterprise officer, after the departure of Greg Covino in mid-April. Covino, a former Bristol-Myers Squibb Co (NYSE: BMY) government, served as CFO for a short interval of about 5 months.

Kelly is a biopharma business veteran with greater than 25 years of expertise in commercial- and clinical-stage biopharma firms akin to Supernus Prescribed drugs Inc (NASDAQ: SUPN), Vanda Prescribed drugs Inc. (NASDAQ: VNDA), MedImmune and Biogen Inc (NASDAQ: BIIB).

Novavax additionally introduced the appointment of Nasir Egal, as senior vp of high quality assurance.

Associated Hyperlink: Novavax Vs. Pfizer Vs. Moderna: How COVID-19 Vaccines Stack Up

Why It is Vital: Novavax is growing NVX-CoV2373, a protein-based vaccine candidate engineered from the genetic sequence of SARS-CoV-2 utilizing its recombinant nanoparticle know-how, adjuvanted with its patented saponin-based Matrix-M.

Even after reporting ultimate outcomes from the late-stage trial of the vaccine candidate, displaying 90.4% efficacy, the corporate is but to file for emergency use authorization within the U.S. The corporate expects to use for EUA with the FDA within the fourth quarter.

Functions for conditional approval are pending earlier than regulatory businesses of India, Indonesia and the Philippines, whereas the corporate has initiated submitting for a rolling assessment of functions with the U.Okay. EU, Canada, Australia and New Zealand.

Within the final yr, following the initiation of the COVID-19 program, Novavax has made a number of administration modifications.

Eventually test Monday, Novavax shares are down 12.04% to $226.30.

Associated Hyperlink: The Week Forward In Biotech: Destiny Therapeutics Information Readout, RenovoRx IPO In Focus Amid Tapering Earnings Information Stream

Picture: Courtesy Novavax

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