Novavax Inc.’s stock NVAX soared 4.6% early Tuesday, after the company said its protein-based COVID-19 vaccine had been granted emergency-use listing by the World Health Organization. The move means that all 194 of the agency’s member states can use the Novavax vaccine for individuals aged 12 and older. The vaccine is already allowed in the U.S. under a similar emergency use authorization. “Rural or hard-to-reach areas can benefit from our vaccine’s ease of transport and storage profile,” said Novavax Chief Executive John C. Jacobs in a statement. “As part of a diversified vaccine portfolio, our vaccine can play an important role in helping to protect people around the globe against the latest variants.” The vaccine can be stored at 2 to 8 degrees Celsius and has a 12-month shelf life. The WHO decision was based on non-clinical data that shows it induced immune responses against the XBB.1.5, XBB.1.16 and XBB.2.3 variants. Novavax’s stock has fallen 47% in the year to date, while the S&P 500 SPX has gained 18.5%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
0
0
