One of the big vaccine stories of this year, Novavax (NASDAQ:NVAX) has been an intriguing stock to watch. Indeed, NVAX stock has spiked and fallen a number of times this year as a result of various catalysts. Accordingly, for speculators and growth investors bullish on Novavax’s prospects, volatility has been the name of the game.
Today, shares of NVAX stock surged more than 10% on heavy volume as investors appear to be growing increasingly bullish on this vaccine player.
Indeed, this bullish momentum is certainly welcome for investors. The vaccine space is one that’s been rather hard-hit in recent months, as a significant percentage of the wealthy world is already vaccinated. Despite booster shot promises, investors appear to be questioning whether the window of opportunity is closing on companies seeking vaccine approvals at this stage of the game.
That said, Novavax has a couple ofcatalysts that investors are getting excited about today. Let’s dive into why NVAX stock is surging once again.
NVAX Stock Soars on Approval Updates
Today, Novavax provided two key updates, which are clearly getting priced in right now.
First, the company reported that Novavax has received Emergency Use Authorization (EUA) for its Covid-19 vaccine in the Philippines. Any sort of approval from federal regulators in any market is a big deal. However, the Philippines is a rather large nation by population. Accordingly, investors appear to be bullish on the growth prospects this EUA could provide.
Additionally, and perhaps more importantly, Novavax also announced an update on the company’s prospective European Union (EU) approval. Novavax noted that EU regulators could make a decision on Novavax’s vaccine in the coming weeks.
Given the size of the EU market, this is a big deal. Currently, there are four approved vaccines in Europe, and an approval would make Novavax the fifth. This would also boost the company’s profile among vaccine makers, particularly among wealthy European markets.
Novavax also reiterated plans to file for approval in the U.S. by the end of the year. These developments could lead to significant growth for Novavax, a company currently valued at around $14 billion.
On the date of publication, Chris MacDonald 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.