Novavax (NVAX) is now beginning human testing in its Phase 1/2 clinical trial of its coronavirus vaccine candidate, NVX‑CoV2373. Preliminary immunogenicity and safety results from the Phase 1 part of the trial are expected in July 2020, the company says.NVX‑CoV2373 is a stable, prefusion protein that uses Novavax’s Matrix‑M adjuvant to enhance immune responses and stimulate high levels of neutralizing antibodies.“Administering our vaccine in the first participants of this clinical trial is a significant achievement, bringing us one step closer toward addressing the fundamental need for a vaccine in the fight against the global COVID‑19 pandemic,” said Stanley C. Erck, CEO of Novavax. “We look forward to sharing the clinical results in July and, if promising, quickly initiating the Phase 2 portion of the trial.”The Phase 1/2 clinical trial will be held in two parts. Phase 1 is a randomized, observer-blinded, placebo-controlled trial to evaluate the vaccine’s immunogenicity and safety, both adjuvanted with Matrix‑M and unadjuvanted. The trial is enrolling 130 healthy participants 18 to 59 years old at two sites in Australia. The protocol’s two-dose trial regimen assesses two dose sizes (5 and 25 micrograms) with Matrix‑M and without.If Phase 1 is successful, the Phase 2 part will begin ‘promptly’ says NVAX. It will be held in multiple countries, including the US, and would assess immunity, safety and Covid‑19 disease reduction in a broader age range. This Phase 1/2 approach allows for rapid advancement of NVX‑CoV2373 during the pandemic, says Novavax. The trial is being supported by $388M in funding from the Coalition for Epidemic Preparedness Innovations (CEPI).According to the Wall Street Journal, Novavax is already ramping up manufacturing for NVX‑CoV2373 even though trials are only beginning now. “Time is the most important thing here,” Erck told the publisher, adding that normally NVAX would wait 6-9 months before taking this step.Shares in Novavax have exploded by 1059% year-to-date, and analysts have a firmly bullish Strong Buy stock consensus. The average analyst price target currently stands at $48 (3% upside potential). (See Novavax stock analysis on TipRanks).Ladenburg Thalmann analyst Michael Higgins has just boosted his price target from $38 to $50. “Our higher price target reflects our continued confidence in the successful completion of development and global approval of NVX-CoV2373, with an increased estimate for the procurement of this vaccine in 2021, from 100M to 300M doses, at $10/dose, for a ~3% share of global vaccine consumption, with our continued assumption for a $5 CGS/dose” he explains.Related News: Novavax Spikes 31% on $384 Million Cash Injection for Vaccine Production Novavax Seeks To Raise $250 Million From Share Sale; Top Analyst Bumps Up PT Regeneron To Repurchase $5 Billion Stake From Sanofi More recent articles from Smarter Analyst: * Aurinia Submits FDA New Drug Admission For Novel Voclosporin Kidney Treatment * China’s Tencent To Pour $70B Into ‘New Infrastructure’ Including AI * Australia’s New Century In Talks To Buy Vale’s Nickel, Cobalt Mine * New HBO Max Streaming Service Will Go Live on Wednesday
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Latam Airlines Group S.A. (LTM) and its affiliates in Chile, Peru, Colombia, Ecuador and the U.S. have filed for Chapter 11 bankruptcy protection due to the impact of the coronavirus pandemic on the global aviation industry.The Latin American airline said that it has secured up to $900 million in financing from the Cueto and Amaro families and Qatar Airways, two of its largest shareholders. As of the Chapter 11 filing, the group had about $1.3 billion in cash on hand.During the debt restructuring process, Latam and its affiliates will continue flying as conditions permit, the airline said.Commercial airline travel has fallen off a cliff due to coronavirus-induced lockdown restrictions forcing many global airlines around the world to ground the majority of their fleets, suspend aircraft deliveries, and streamline operations.Deutsche Lufthansa AG (DLAKY) on Monday announced that it has reached an agreement with the German government on a €9 billion ($9.8 billion) bailout package, while earlier this month Colombian Avianca Holdings (AVH) filed for bankruptcy protection."Latam entered the COVID-19 pandemic as a healthy and profitable airline group, yet exceptional circumstances have led to a collapse in global demand and has not only brought aviation to a virtual standstill, but it has also changed the industry for the foreseeable future," said Roberto Alvo, CEO of Latam. "We have implemented a series of difficult measures to mitigate the impact of this unprecedented industry disruption, but ultimately this path represents the best option to lay the right foundation for the future of our airline group.”Latam and its affiliates said that they are also in discussions with their respective governments of Chile, Brazil, Colombia and Peru to seek sourcing additional financing, protect jobs where possible and minimize disruption to its operations.Shares in the air carrier fell $4.8% to $2.58 as of Friday in U.S. trading taking the year-to-date plunge to 75%.TipRanks data shows that three out of five analysts releasing a review over the past month downgraded the stock’s rating to Hold. The $3.40 average analyst price target implies 32% upside potential in the shares in the coming 12 months. (See Latam Airlines stock analysis on TipRanks).Related News: Ryanair Cuts Traffic Target By Almost 50% For Coming Year, Seeks To Reduce Boeing Plane Deliveries Boeing Gets No Orders in April, Customers Cancel 737 MAX Jets Colombian Carrier Avianca Files for Bankruptcy Protection Due to Coronavirus Woes More recent articles from Smarter Analyst: * Aurinia Submits FDA New Drug Admission For Novel Voclosporin Kidney Treatment * China’s Tencent To Pour $70B Into ‘New Infrastructure’ Including AI * Australia’s New Century In Talks To Buy Vale’s Nickel, Cobalt Mine * New HBO Max Streaming Service Will Go Live on Wednesday