Johnson & Johnson Stock Drops Post Vaccine Announcement, Novavax’s Shoots Up

Alexander Tolstykh /

Both Johnson & Johnson (NYSE: JNJ) and Novavax (NASDAQ: NVAX) announced their phase 3 trial results for their COVID-19 vaccines today. Johnson & Johnson’s single-shot vaccine candidate is 66% effective overall at preventing moderate to severe COVID-19, the company said in a statement. Novavax said in a statement that its COVID-19 vaccine candidate had an 89.3% efficacy rate in a U.K. trial.

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Johnson & Johnson Vice Chairman of the Executive Committee and Chief Scientific Officer Paul Stoffels said in a statement that the results “with a single-shot COVID-19 vaccine candidate represent a promising moment. The potential to significantly reduce the burden of severe disease, by providing an effective and well-tolerated vaccine with just one immunization, is a critical component of the global public health response.”

The company, which announced its fourth-quarter and full-year 2020 results earlier this week and beat analysts’ expectations, saw its shares slide today following the announcement. The stock dropped 3.4% mid-morning.

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Novavax, with its 89.3% efficacy, also said that it was the “first to demonstrate clinical efficacy against COVID-19 and both U.K. and South Africa variants.”

“These are spectacular results, and we are very pleased to have helped Novavax with the development of this vaccine,” Clive Dix, chair, U.K. Vaccine Taskforce, said in a statement. “The efficacy shown against the emerging variants is also extremely encouraging. This is an incredible achievement that will ensure we can protect individuals in the UK and the rest of the world from this virus.”

Following the announcement, Novavax’s shares were up 56% mid-morning.

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About the Author

Yaël Bizouati-Kennedy is a full-time financial journalist and has written for several publications, including Dow Jones, The Financial Times Group, Bloomberg and Business Insider. She also worked as a vice president/senior content writer for major NYC-based financial companies, including New York Life and MSCI. Yaël is now freelancing and most recently, she co-authored  the book “Blockchain for Medical Research: Accelerating Trust in Healthcare,” with Dr. Sean Manion. (CRC Press, April 2020) She holds two master’s degrees, including one in Journalism from New York University and one in Russian Studies from Université Toulouse-Jean Jaurès, France.

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