The drop was mostly caused by the new data released by Johnson & Johnson regarding the effectiveness of its COVID-19 vaccine. The Phase III trials showed that the vaccine was 72% effective in the US, 66% in Latin America, and 57% in South Africa, after weeks of late-stage trials. According to #JNJ, the vaccine’s overall effectiveness is 66%.
Following the news, JNJ stock price slipped more than 4%.
On the other hand, Novavax – another biotech company working on a COVID-19 vaccine revealed that its candidate was more than 89% effective. The information is based on the Phase III clinical trial conducted in the UK on 15,000 participants.
According to Novavax CEO, Stanley Erck, the company “has the potential to play an important role in solving this global public health crisis.”
After the news about Novavax hit the wires, its stock price gained roughly 23%.
Read here about how JNJ has performed in Q4 2020!