Novavax says its combination COVID-19 and flu vaccine produced an immune response

Shares of Novavax Inc. NVAX, -6.03% were down 3.4% in premarket trading on Thursday after the company said its combination COVID-19 vaccine and flu shot candidate generated an immune response in a Phase 1/2 clinical trial. Novavax also said that the safety and tolerability of the combination vaccine was consistent with getting a standalone COVID-19 vaccine or flu shot, and it plans to begin a confirmatory Phase 2 clinical trial this year. Novavax’s stock has tumbled 85.8% this year, while the S&P 500 SPX, -2.23% has declined 24.7%.