Why Novavax Stock Is on Fire Today
Shares of the next-generation vaccine developer Novavax (NASDAQ: NVAX) jumped by as much as 15% in premarket trading Monday morning. The company's stock is up by double-digits in early morning action today in response to three positive regulatory updates for its protein-based COVID-19 vaccine candidate known as NVX-CoV2373.
Specifically, ahead of the opening bell, the biotech announced that it has now completed the vaccine's regulatory application in Canada and submitted all of the necessary regulatory paperwork for the vaccine's approval in the European Union. Novavax noted in its press release that the final step to completing the application in the European Union will be an invitation from the European Medicines Agency to file for Conditional Marketing Authorization. Additionally, the biotech also announced that Indonesia has granted the vaccine emergency use authorization in the country, marking the vaccine's first official regulatory approval.
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Source Fool.com
