Novavax rises on results for bird flu vaccine

ROCKVILLE, Md. -- Shares of Novavax Inc. surged in premarket trading, after the company said an experimental vaccine for bird flu appeared safe and effective in early-stage testing. The results must be confirmed with additional testing.

Novavax said preliminary results from two studies enrolling 666 adults showed no serious side effects related to the vaccine. The company also reported a strong immune system response to the drug based on testing patients 42 days after they received the vaccine.

The company said the results fulfill requirements for preliminary effectiveness from the Food and Drug Administration's vaccine division.

Shares of Novavax Inc. rose 16 cents, or 17 percent, to $2.40 in premarket trading.