Novavax, a Maryland biotechnology company, announced Monday that its COVID-19 vaccine was 90.4% effective in its Phase 3 trial, including against coronavirus variants.

Why it matters: The study of 29,960 participants in the U.S. and Mexico found the shot was safe and highly effective, paving the way for the FDA to clear a 4th vaccine for emergency use by the end of the year.

Between the lines: Because the U.S. is currently sitting on a significant supply on vaccines provided by Pfizer, Moderna, and Johnson & Johnson, Novavax doses could be exported to other countries as the Biden administration seeks to fulfill its goal of helping vaccinate the world.

By the numbers: The vaccine was found to be 90.4% effective overall and 100% effective at protecting against moderate and severe disease.

• The results of the study demonstrate efficacy comparable to the Pfizer and Modera vaccine.
• Novavax said it remains on track to reach manufacturing capacity of 100 million doses per month by the end of Q3 and 150 million doses per month by the end of Q4.

What's next: Novavax said it would seek emergency authorization from the FDA and other regulators in Q3 of this year.

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