Novavax Inc. NVAX,
said Monday it is beginning a final-phase trial of its COVID-19 vaccine candidate with plans to enroll up to 30,000 volunteers at some 115 locations in the U.S. and Mexico. The trial is supported by partners in Operation Warp Speed, the federal government’s program that aims to rapidly develop vaccines and therapies, including the Department of Defense and the National Institute of Allergy and Infectious Diseases. (NIAID), which is part of the National Institutes of Health. (NIH), and the Biomedical Authority for Advanced Research and Development (BARDA), which is part of the U.S. Department of Health and Human Services (HHS), deputy secretary of preparedness and response. Barda is providing up to $ 1.6 billion to fund the trial under a Department of Defense agreement. The trial will be randomized, placebo-controlled, and will evaluate the effectiveness of the treatment, called NVX-CoV2373, in patients from 18 years of age. Shares were slightly higher on Monday and have gained more than 3,000% in 2020 with vaccine expectations.