Why Novavax Stock Fell Today - Novavax (NASDAQ:NVAX)

Novavax, Inc. (NASDAQ:NVAX) shares are trading lower Wednesday amid a pullback in the stock, which gained Tuesday after the FDA granted Emergency Use Authorization for the company's updated protein-based COVID-19 vaccine for people 12 and older.

What To Know: Shares of Novavax surged Tuesday on news of FAD Emergency Use Authorization for its vaccine which is reportedly based on an older technology than the messenger RNA vaccines.

The FDA has also recently approved an updated vaccine from Moderna Inc (NASDAQ:MRNA) and the vaccine jointly produced by Pfizer Inc (NYSE:PFE) and BioNTech SE (NASDAQ:BNTX) for the fall, all of which are likely to provide protection against current strains of the virus.

However, shares pulled back by over 8% on Wednesday following Tuesday's rise in price.

NVAX Price Action: Shares of NVAX closed down 4.43% at $7.33 at the time of publication, according to Benzinga Pro.

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