Novavax $NVAX failed to meet the primary efficacy endpoint of its pivotal phase 3 trial. The stock fell 80% since the announcement late afternoon yesterday. (If you haven't registered for free yet, better do that now. )

“ Novavax announced topline data from two clinical trials of its RSV F-protein recombinant nanoparticle vaccine candidate (RSV F Vaccine) in older adults.  The Resolve™ trial, a Phase 3 trial of our RSV F Vaccine in 11,856 older adults (60 years of age and older), did not meet the pre-specified primary or the secondary efficacy objectives, and did not demonstrate vaccine efficacy.”

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