Novavax Inc (NASDAQ:NVAX) is expected to start delivering its COVID-19 vaccines to the European Union in Q1 of 2022, Reuters reported citing an EU source.

• The drug regulator met on Monday to decide whether to approve the shot.
• Related: WHO Issues Emergency Use Listing to Novavax-Serum Institute's COVID-19 Vaccine.
• If approved, the two-dose vaccine, branded Nuvaxovid, would be the fifth coronavirus shot brought to the EU market.
• Earlier in the year, Novavax had told the European Union it planned to begin making first small shipments of its vaccine for the bloc towards the end of this year, with the bulk of supplies in 2022, an EU official told Reuters in May.
• The EU Commission and the company signed a contract in August to deliver up to 200 million doses, of which half is optional.
• European Medicines Agency has recommended granting conditional marketing authorization for Novavax's COVID-19 vaccine to prevent COVID-19 in people from 18 years of age and older. 
• Price Action: NVAX shares are up 6.76% at $232 during the premarket session on Monday's last check.