Novavax Inc. on Monday reported late-stage data from its U.S.-based clinical trial showing its vaccine is more than 90 percent effective against COVID-19 variants.

The study of nearly 30,000 volunteers in the U.S. and Mexico puts Novavax on track to file for emergency authorization in the U.S. and elsewhere in the third quarter of 2021, the company said.

The jab "demonstrated 100 percent protection against moderate and severe disease, 90.4 percent efficacy overall," the company said in a statement, adding, "the study enrolled 29,960 participants across 119 sites in the U.S. and Mexico to evaluate efficacy, safety and immunogenicity."

The Maryland-headquartered company said it intended to apply for regulatory approval by the third quarter of 2021.

After that, it said, it would be on course to make 100 million doses per month by the end of the third quarter and 150 million doses per month by the end of the year.

"Today, Novavax is one step closer to addressing the critical and persistent global public health need for additional COVID-19 vaccines," said Stanley C. Erck, Novavax's president and chief executive.

"Novavax continues to work with a sense of urgency to complete our regulatory submissions and deliver this vaccine, built on a well understood and proven platform, to a world that is still in great need of vaccines."

The company has repeatedly pushed back production forecasts and has struggled to access the raw materials and equipment needed to make its vaccine.

However, in a May investor call, Chief Executive Stanley Erck said major manufacturing hurdles have been cleared and that all of its facilities can now produce COVID-19 vaccine at a commercial scale.

Erck said that Novavax has begun its regulatory filing in India in partnership with the Serum Institute of India, which is contracted to make Novavax shots.

While some rich countries have made progress on vaccinating their populations, there remain concerns that many poorer countries are being left out of the global inoculation drive.

Vaccination rates in the world's poorest nations are far behind the Group of Seven industrialized powers and other wealthy states – in terms of doses administered so far, the imbalance between the G7 and the planet's low-income countries, as defined by the World Bank, is 73 to one.

Unlike some other vaccines, Novavax's vaccine – formally known as NVX-CoV2373 – does not have to be stored at ultra-low temperatures.

The company said it was "stored and stable at 2°- 8°C, allowing the use of existing vaccine supply chain channels for its distribution."

In theory, at least, this means the shots should be more easily transported and administered in countries with less well-developed health infrastructures.

(With input from agencies)