What's Going On With Novavax Stock Thursday?

Zinger Key Points
  • The FDA's sdvisory committee voted to recommend updated vaccines for JN.1-lineage of COVID-19.
  • Novavax says it's on track to deliver the recommended vaccine by September.

Novavax Inc NVAX shares are trading higher Thursday after the U.S. Food and Drug Administration's advisory committee voted to recommend updated vaccines for JN.1-lineage of COVID-19.

What To Know: The FDA’s committee of independent advisors voted unanimously on Wednesday to recommend that the FDA tell vaccine makers to update their COVID-19 shots to make them more effective against the JN.1 variants, per CNN.

All 16 advisors reportedly voted “yes” when asked if they recommend a “monovalent JN.1-lineage vaccine composition.” The decision now moves to the FDA.

Novavax reportedly said it’s on track to deliver the recommended vaccine by September.

In a regulatory filing, the company also announced that the FDA recently notified Novavax that it completed its filing review of the final portion of the company's Biologics License Application (BLA) for its COVID-19 vaccine and has set a Prescription Drug User Fee Act (PDUFA) review goal date in April 2025 for the BLA.

As a result, Novavax expects the commercial sales of its COVID-19 vaccine in the U.S. during the 2024-2025 season to be under its existing Emergency Use Authorization.

See Also: Novavax Stock Rallies In Pre-Market As Company Plans To Deliver Covid-19 Vaccine By September

How To Buy NVAX

By now you're likely curious about how to participate in the market for Novavax – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. In the case of Novavax, which is trading at $20.97 as of publishing time, $100 would buy you 4.77 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

NVAX Price Action: Novavax shares were up 13% at $23.70 at the time of publication, according to Benzinga Pro.

Photo: Shutterstock.

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