Stock Alert: Novavax Hits New 52-week High

(RTTNews) - Shares of Novavax Inc. (NVAX) are rising more than 6 percent or $3.93 in Friday's morning trade at $63.20, after earlier touching a new 52-week high of $63.76 despite the absence of any stock-specific news.

Novavax's COVID-19 vaccine candidate, NVX-CoV2373, is currently in a phase I/II trial, with preliminary immunogenicity and safety results from the phase I portion of the trial expected in July 2020. If the results are promising, the phase II portion of the trial will be initiated quickly.

Maryland-based Novavax, along with its subsidiary, Novavax AB, focuses on the development, and commercialization of vaccines to prevent serious infectious diseases. Wednesday, Novavax said it has appointed Filip Dubovsky as Chief Medical Officer. Dubovsky joins Novavax from AstraZeneca plc, where he was Head of Clinical Engagement and Policy and Deputy Chief Medical Officer for clinical affairs.

The stock has traded in a range of $3.54 to $63.76 in the past 52 weeks.