We are looking at a fourth — yes, a fourth — wave of Covid on U.S. soil, and it could be coming sooner than you think. The delta variant is proving to be the peskiest challenge faced since the ubiquity of coronavirus vaccines. Its rapid transmission is only outmatched by the speed at which it has changed shape again, into the newer delta-plus variant. It is thus more important than ever to get shots into arms, and Novavax (NASDAQ:NVAX) is looking to do just that with the delivery of 200 million doses. NVAX stock is on the rise as a result.
Vaccinations are the most surefire way to protect citizens against the virus. And, as many are seemingly foregoing vaccinations, the U.S. government is beginning to strike back. President Joe Biden is laying out some hard vaccination rules for federal employees: either get vaccinated or face frequent testing. Meanwhile, cities are starting to require proof of vaccination to dine in or use public gyms, starting with New York.
Meanwhile, European nations have been slow on vaccination due in large part to shortages of vaccines. This of course has an effect on the U.S., influencing the scope of travel and the global economy. Therefore, getting shots across the Atlantic is of the utmost importance.
NVAX Stock Soars as the Company Ships Vaccines Overseas
Novavax is leading the charge on vaccine exports with its announcement today. The company is planning on sending 200 million doses of its vaccine to the European Union upon the approval of the shot by the Food and Drug Administration (FDA).
The company claims its vaccine shows efficacy at preventing the original virus. However, it also shows efficacy against variants of concern like delta and delta plus. It also utilizes typical protein-based technology, whereas the other major U.S. vaccines utilize mRNA formulas.
Upon approval by the FDA, Novavax will send 100 million doses to the EU. Another 100 million will be ready to send through 2023. The news is sending NVAX stock rocketing over 22% on the day’s trading session. Over 12 million shares are trading hands, much higher than the daily average of 4 million.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.