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Why Novavax Stock Is Jumping Today

TheMotleyFool

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Why Novavax Stock Is Jumping TodayPhoto, wide shot, wide-angle lens, Biotech company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://img.theapi.app/temp/80e18bfd-1ff8-4487-af62-1cdb7de1ceb6.png

Shares of Novavax (NASDAQ: NVAX) were jumping 4.4% as of 10:59 a.m. EST on Friday after rising as much as 6.8% earlier in the day. The gain came after the biotech announced the start of a rolling review by several regulatory agencies for potential authorization of its COVID-19 vaccine candidate, NVX-CoV2373.

Today's jump appears to be warranted, with Novavax moving another step closer to potentially being able to market its COVID-19 vaccine. The company announced great interim results in late January from a U.K. phase 3 study. It makes sense that Novavax moved quickly to seek authorizations in the U.K. and other countries based on this data.

Image source: Getty Images.

Source Fool.com

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