Company awarded $1.6 billion for COVID-19 vaccine development

(NBC) – Novavax is the latest company to receive money from the U.S. government for testing and manufacturing a potential coronavirus vaccine.

Tuesday’s $1.6 billion award is the largest yet from “Operation Warp Speed.”

The money will be for completing late-stage clinical development, including a Phase 3 clinical trial that will involve up to 30,000 people.

It will also establish large-scale manufacturing of a vaccine candidate with the goal of delivering 100 million doses by early next year.

A Phase 1 clinical trial involving 130 people began in May and those results are expected at the end of the month.

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