Why Novavax Stock Is Rising Today

Why Novavax Stock Is Rising Today

Novavax Inc NVAX shares are trading higher Wednesday after the U.S. Centers for Disease Control and Prevention's (CDC) advisory committee voted unanimously to recommend the use of the Novavax COVID-19 Vaccine, Adjuvanted as a two-dose primary series in individuals aged 18 and older.

The recommendation comes after the FDA granted Novavax Emergency Use Authorization. The advisory committee will submit its recommendation to the director of the CDC for review and endorsement.

"We think vaccine choice is important, particularly as we expect to see ongoing surges of COVID-19 and work to increase vaccination rates," said Stanley Erck, president and CEO of Novavax.

On Tuesday, Novavax announced agreements with SK bioscience for the manufacturing and supply of a version of the vaccine containing the Omicron variant.

See Also: The Daily Biotech Pulse: CDC AdComm Backs Novavax COVID-19 Vaccine, European Approval For PTC Therapeutics' Gene Therapy, Merck's Keytruda Flunks In Head, Neck Cancer Study

NVAX Price Action: Novavax has traded between $277.79 and $34.88 over a 52-week period.

The stock was up 4.93% at $60.86 at press time, according to data from Benzinga Pro.

Photo: Jernej Furman from Flickr.

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