Novavax Stock (NASDAQ:NVAX)
When a product receives approval from the Food and Drug Administration (FDA), it usually results in a substantial stock price gain for a firm. Novavax (NASDAQ:NVAX), a vaccine specialist, had the reverse impact on Wednesday as the latest FDA green light sent the Novavax stock down by over 4%.
What’s the Reason?
The Food and Drug Administration (FDA) has approved Novavax’s NVX-CoV2373 adjuvanted version of their booster coronavirus vaccine. Not everyone can get an mRNA bivalent booster vaccination, and the EUA only covers the booster for adults and those people.
Both the main coronavirus vaccine (and booster) on the U.S. market, Spikevax from biotech company Moderna, and Comirnaty from pharmaceutical giants Pfizer and BioNTech are based on mRNA technology.
The overall uptake of the newest coronavirus boosters in our nation has been sluggish, compounded by the fact that there are severe constraints on the administration of Novavax’s booster. To begin with, many Americans have an aversion to COVID-19 vaccinations. In contrast, many who have received the main series are tired of the epidemic and optimistic that it is waning.
“Data from the Centers for Disease Control and Prevention shows that over half of people who had their first series have yet to get their first booster dose. Covid booster vaccination rates among these individuals may be improved by providing another vaccine option “The CEO of Novavax, Stanley Erck, was mentioned by the media.
What’s Next?
Novavax’s protein-based NVX-CoV2373 is a new coronavirus vaccine on the U.S. market. Still, the business cannot overcome its image as a latecomer to the Great Covid Jab Race. This relatively limited license for its booster isn’t going to improve things since Novavax was the fourth and last developer to have its vaccine approved or authorized by the FDA.
Featured Image- Megapixl @ Filmfoto
Author Shariq Khan 
