Why Is Novavax Stock Soaring This Week?

According to S&P Global Market Intelligence,Novavax stock (NASDAQ:NVAX) was up 31.6% this week as of 3:18 p.m. ET on Thursday. The significant increase followed a string of favorable events for the vaccine manufacturer.

Market Analysis of Novavax Stock

Swiss authorities authorized the use of Novavax’s Nuvaxovid COVID-19 vaccine as a booster in people 18 and older on Monday. Novavax’s partner, SK Bioscience, has also applied for Nuvaxovid’s clearance as a booster in South Korea.

Novavax revealed encouraging findings for their prototype vaccine targeting the coronavirus omicron strain on Wednesday. On Thursday, the business released positive findings for its COVID-19/flu vaccine candidate.

This burst of excellent news was desperately needed for Novavax stock (NASDAQ:NVAX). Coming into this week, vaccination stocks had fallen by 89%.

The recommendation of Nuvaxovid as a booster in adults by Switzerland’s Federal Office of Public Health should have the greatest immediate effect of this week’s events. However, Swiss officials had previously granted the vaccine provisional approval as a booster in September.

The omicron booster data, on the other hand, is perhaps the most relevant news for the short future. Novavax said that their omicron booster prototype elicited a strong immunological response. On this front, the corporation is playing catch-up: Pfizer and Moderna have already introduced omicron boosters in the United States.

So, what now for Novavax?

The most significant long-term development for Novavax may be the advancement of their combined COVID-flu vaccine candidate. The business announced good findings from a phase 1/2 research, which demonstrated that the combination vaccination elicited immune responses against both the new coronavirus and influenza strains.

Novavax intends to move its COVID-flu vaccine candidate into phase 2 testing later this year. For the time being, the company’s main concern is how soon it will be able to petition for and get authorizations for its omicron booster.

Featured Image – Megapixl © Artas101

Please See Disclaimer

About the author: Okoro Chinedu is a freelance writer specializing in health and finance, with a keen interest in cryptocurrency and blockchain technology. He has worked in content creation and digital journalism. Since 2019, he has written on various online platforms, and his work has been recognized by several important media sources and specialists in finance and crypto. In addition to writing, Chinedu enjoys reading, playing football, posing as a medical student, and traveling.