Novavax seasonal flu vaccine meets study goal

ROCKVILLE, Md. (AP) - Biotechnology company Novavax Inc. said Monday its seasonal flu vaccine candidate met key goals in a midstage clinical trial.

The company said it presented the results at the 47th annual meeting of the Infectious Diseases Society of America on Saturday. The study involved 241 patients.

The trivalent seasonal influenza VLP vaccine was well tolerated and prompted an immune response, the company said, meeting study goals.

"We are pleased with the results of this study, which support continued development of novel VLP vaccines against influenza and moving forward with our head-to-head study in the elderly population this fall," said President and CEO Dr. Rahul Singhvi, in a statement.

Shares of Novavax rose 1 cent to $3.85 in morning trading.