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Why Novavax Stock Is Jumping Today

TheMotleyFool

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Shares of Novavax (NASDAQ: NVAX) were jumping 5.2% as of 11:05 a.m. ET on Tuesday. The solid gain came after the company and its partner, Serum Institute of India (SII), announced that India granted Emergency Use Authorization (EUA) to Novavax's COVID-19 vaccine NVX-CoV2373.

It makes sense that the vaccine stock experienced a boost with the authorization of NVX-CoV2373 in India. The country represents a large market opportunity for Novavax and SII, which will manufacture and market the vaccine in India under the brand name Covovax.

Image source: Getty Images.

Source Fool.com

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