Please ensure Javascript is enabled for purposes of website accessibility

Novavax Taps Ex-AstraZeneca Executive as CMO, Will Head Corornavirus Vaccine Development

By Eric Volkman - Jun 18, 2020 at 9:10AM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Filip Dubovsky has previously been involved in large-scale vaccine projects.

Novavax (NVAX 2.00%) has a new, high-powered chief medical officer (CMO). The company announced Wednesday that it appointed Filip Dubovsky to the position. An industry veteran with more than 20 years of experience, he was most recently deputy CMO for clinical affairs at another global pharmaceutical major, AstraZeneca (AZN 0.26%).

Most of Dubovsky's time at AstraZeneca was spent in its MedImmune biologics subsidiary. The MedImmune brand was retired by AstraZeneca last year; at that point, according to his LinkedIn profile page, Dubovsky had worked there for more than 13 years. He served in several executive positions, including vice-president of clinical development for vaccines and infectious disease.

Prior to that, he was scientific director of PATH Malaria Vaccine Initiative, where in his words, he "created, managed and defended a portfolio of 25 malaria vaccine candidates spanning from early candidate optimization to Phase 3 clinical study preparation."

A syringe being filled with a vaccine from a vial.

Image source: Getty Images.

That experience promises to be greatly helpful to Novavax; many eyes are on its NVX-CoV2372 vaccine candidate for the still-spreading SARS-CoV-2 coronavirus. The company is also preparing to submit a Biologics License Application to the FDA for NanoFlu, an influenza vaccine for people over 65.

Last month, Novavax announced that it had secured up to $388 million in funding from the Coalition for Epidemic Preparedness Initiatives (CEPI) to help it develop its candidate COVID-19 vaccine. More recently, it announced it was selling $200 million of convertible preferred stock in a private placement deal; the funds raised will be used in the development of both vaccines.

On Wednesday, Novavax stock well outperformed the modest gains of the broader market, closing nearly 6.3% higher on the day.

Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Novavax, Inc. Stock Quote
Novavax, Inc.
$42.30 (2.00%) $0.83
AstraZeneca PLC Stock Quote
AstraZeneca PLC
$66.81 (0.26%) $0.17

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 08/15/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.