Why Novavax Stock Shot Higher Today
Apparently, Novavax's (NASDAQ: NVAX) deal with the U.S. government to supply 3.2 million doses of its NVX-CoV-2373 coronavirus vaccines announced Monday was a precursor to the jab's authorization. A media outlet reported the following day that Novavax is on the cusp of winning authorization for the vaccine -- also known by the brand name Nuvaxovid -- and the company's shares promptly rose by nearly 4%.
In an article published early Tuesday afternoon, Politico.com wrote that the Food and Drug Administration (FDA) is going to grant Emergency Use Authorization (EUA) for CoV-2373 in the very near future. The article's sources, "two people with knowledge of the matter," according to Politico, say this could come as early as Wednesday.
CoV-2373 is a protein-based vaccine. This is in contrast to the widely administered jabs made by Moderna and the partnership of Pfizer and BioNTech, which utilize mRNA-based technology to do their work. Both of those vaccine received their original EUAs in late 2020.
Source Fool.com
