Novavax Inc NVAX shares are trading lower Thursday following reports that the U.S. Food and Drug Administration's decision on the company's COVID-19 vaccine could be delayed to review manufacturing changes.
According to a CNBC report, citing an agency spokesperson, the FDA needs to review recent adjustments to Novavax's manufacturing process before it can authorize the company's vaccine.
On Tuesday, a committee of independent FDA vaccine advisors voted to recommend Novavax's COVID-19 vaccine for Emergency Use Authorization (EUA). The FDA Vaccines and Related Biological Products Advisory Committee voted 21 to 0, with one abstention to recommend EUA for NVX-CoV2373 in individuals aged 18 years and older.
The FDA considers the recommendations of the independent advisory committee when making decisions on EUA. The Novavax COVID-19 vaccine has been authorized for use in more than 40 countries. It would be the fourth COVID-19 vaccine to receive authorization in the U.S. if approved.
See Also: Morning Brief: Top Financial Stories Dominating on Thursday, June 9
NVAX Price Action: Novavax shares have traded between $41.10 and $277.79 over a 52-week period.
THe stock was down 5.41% at $47.40 at press time, according to data from Benzinga Pro.
Photo: Jernej Furman from Flickr.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
