Why Novavax Tumbled by Almost 4% on Thursday
Despite some good regulatory news for Novavax (NASDAQ: NVAX), the company's investors were a gloomy bunch on Thursday. The vaccine-focused biotech won approval for its coronavirus jab in North America -- just not the largest market on the continent. As a result, its share price took a nearly 4% hit on the day.
This morning, Novavax announced that Health Canada, that nation's healthcare-industry regulator, has authorized its Nuvaxovid COVID vaccine for people aged 18 and older. The company didn't hesitate to mention that Nuvaxovid is the first, and so far only, protein-based vaccine to get such a nod in Canada. (The most popular vaccines rely on "training" the body's mRNA to do their work.)
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Source Fool.com
