Why Is Novavax (NVAX) Stock Rallying Today?

  • Novavax (NVAX) is rising thanks to expanded approval for its Covid-19 vaccine in Europe.
  • This allows it to be used on children ages 12 to 17 years.
  • The vaccine still isn’t approved for administration in the U.S.
Novavax (NVAX stock) Covid-19 vaccine Nuvaxovid; Original vaccine vial standing right next to the box in front of white background

Source: cortex-film / Shutterstock.com

Novavax (NASDAQ:NVAX) stock is taking off on Tuesday after the vaccine company got approval for the expanded use of its Covid-19 vaccine in Europe.

This has the European Commission (EC) approving expanded conditional marketing authorization of Nuvaxovid for the European Union. That allows the vaccine to be administrated to children ranging from 12 years to 17 years of age.

This follows a recommendation from the European Medicines Agency’s Committee for Medicinal Products for Human Use made last month. That was based on information from the company’s Phase 3 trial testing the vaccine in kids in the approved age ranges.

Stanley C. Erck, president and CEO of Novavax, said the following about the news.

“With this authorization, we are extremely pleased to be able to offer our Nuvaxovid COVID-19 vaccine to adolescents in the EU. Our protein-based vaccine was developed using an innovative approach to traditional technology and has demonstrated efficacy and safety in both adolescents and adults.”

It’s worth pointing out that Novavax’s Covid-19 vaccine has yet to be approved for use in the U.S. However, the company does mention that India has also approved the vaccine for use in children ages 12 to 17.

NVAX stock is experiencing decent trading today following the vaccine update. This has more than 4 million shares on the move as of this writing. That’s coming up on the company’s daily average trading volume of about 6.2 million shares.

NVAX stock is up 6% as of Tuesday morning but is down 57.6% since the start of the year.

Investors seeking out more recent stock market news are going to want to stick around!

We’ve got all the latest stock news that traders need to know about for Tuesday! Among that is what’s happening with shares of Amylyx Pharmaceuticals (NASDAQ:AMLX) stock, the latest short-squeeze targets to watch, as well as what has oil stocks down today. You can learn all about that at the links below!

More Tuesday Stock Market News

On the date of publication, William White 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.

Article printed from InvestorPlace Media, https://investorplace.com/2022/07/why-is-novavax-nvax-stock-rallying-today/.

©2023 InvestorPlace Media, LLC