Novavax (NASDAQ:NVAX)
On Monday morning, Novavax stock was up by 6.3%. Following the announcement made by the firm that Swiss authorities have advised using Novavax’s COVID-19 vaccine Nuvaxovid as a booster in people aged 18 and older, Novavax stock had a significant gain.
In addition, Novavax (NASDAQ:NVAX) announced on Monday morning that its partner company, SK bioscience, has submitted an application for Nuvaxovid to be administered as a booster in adult patients in South Korea. At the beginning of this year, South Korean authorities gave the vaccine its stamp of approval for use as a primary immunization against the new coronavirus.
Then what?
The action taken today does not improve Novavax stock miserable performance this year. Before the start of this week, the vaccination supply had dropped by roughly 89%. On the other hand, the reports coming in from Switzerland and South Korea were unquestionably encouraging.
Due to the current high immunization rates in industrialized countries, Novavax’s chances for Nuvaxovid as the main vaccine are pretty restricted. Using the company’s vaccination as a booster presents the business with the most significant potential to seize any near-term market momentum that may be available.
The European Union, Australia, Israel, Japan, and New Zealand are among the countries where Nuvaxovid is already commercially accessible as a booster. Following an enlarged temporary authorization of the vaccination as a booster for adults, Swiss authorities have decided to make this notification. After the South Korean Centers for Disease Control and Prevention released an advisory opinion in September 2022, Nuvaxovid may also be administered off-label as a booster in people aged 18 and older.
What’s Next?
Now, Novavax stock is waiting for two more significant triggers. Novavax (NASDAQ:NVAX) is working on getting Nuvaxovid approved for use as a booster in adults in the United States. Soon, it should also announce the findings of a late-stage trial of its vaccine candidate to protect against the coronavirus omicron strain.
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After the company announced favorable developments in Switzerland and South Korea, Novavax stock soared.
Featured Image – Megapixl © Artas101
Author Shariq Khan 
