May 10 Quick Takes: Novavax sinks on vaccine submission delay; plus Alebund, Gennao, Therini, Singular Genomics and more
After closing down $15.50 (9%) to $160.50 Monday, Novavax Inc. (NASDAQ:NVAX) shed an additional 11% in after-hours trading following its announcement that the company will file for emergency authorization of its COVID-19 vaccine in 3Q21 in the U.S., U.K. and Europe. Novavax had previously signaled plans to submit NVX-CoV2373, a recombinant protein-based vaccine, for authorization in the second quarter.
Quan Capital led a $60 million series B round for Alebund Pharmaceuticals that will enable the Shanghai-based company to advance its renal disease pipeline and build out its manufacturing site. Alebund’s lead program is slated to enter Phase III testing next year for hyperphosphatemia. An undisclosed sovereign wealth fund, 3E Bioventures Capital, Sherpa Healthcare Partners and existing investors Lilly Asia Ventures and Med-Fine Capital also participated. ...