Why Novavax Stock Is Sinking Today
Shares of Novavax (NASDAQ: NVAX) were sinking 9.6% as of 11:47 a.m. ET on Monday. The company didn't announce any new developments. So what's behind the big decline?
Other vaccine stocks aren't falling nearly as much. Some were even up a little. That rules out the likelihood that declining concerns about the omicron variant played a major factor behind Novavax's drop.
Instead, investors are probably growing more anxious about Novavax's planned filing for U.S. Emergency Use Authorization (EUA) of it COVID-19 vaccine NVX-CoV2373. Some investors could also be worried about the quality of Novavax's submission to the Food and Drug Administration (FDA) even if it doesn't experience another delay with the filing.
Source Fool.com
