Novavax stock was on the rise again on Tuesday, increasing 7.1% as of 12:50 p.m. ET after initially gaining as high as 14.7%. Novavax stock had dropped the previous week due to a downgrade from an analyst, so the rebound came as a pleasant surprise.
Novavax (NASDAQ:NVAX) reported positive results on Tuesday. Currently, the United Kingdom has access to 1 million doses of the COVID-19 vaccine called Nuvaxovid.
What’s the Reason?
The acceptance of Nuvaxovid in the United Kingdom is hard to foresee. The Agency for the Regulation of Medicines and Healthcare Products (MHRA), granted Conditional Marketing Authorization (CMA) for Novavax in February 2022, allowing immunization of individuals aged 18 and above. Earlier this month, Novavax (NASDAQ:NVAX) received another authorization to sell to children and teenagers (12–17 years old).
The good news is that over 80% of people in the United Kingdom have been vaccinated against COVID-19. The vaccination rate among adults in the country is about 75%. Suppose there is a significant increase in COVID-19 cases this winter. In that case, the protein-based vaccine developed by Novavax may appeal to those who choose not to be vaccinated because they are opposed to messenger RNA vaccines.
Nonetheless, Nuvaxovid is not yet a booster that can be purchased in the United Kingdom. Novavax (NASDAQ:NVAX) has been waiting since June for a decision from MHRA on their application for extended CMA of its vaccine as a booster in adults.
Authorizations for Nuvaxovid boosters in the United Kingdom and the United States are crucial for Novavax. Meanwhile, Novavax stock is expected to continue its erratic performance.
In the long run, though, Novavax stock may have a chance to succeed even more spectacularly. The findings of a Phase III trial of the company’s vaccine against the coronavirus omicron strain are expected to be made public shortly. Novavax (NASDAQ:NVAX) also hopes to go forward with late-stage testing of a COVID/flu vaccine candidate by 2023.
The Novavax stock price jumped when the company announced the availability of one million doses of the COVID-19 vaccine Nuvaxovid in the United Kingdom.
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