Novavax (NASDAQ:NVAX) stock led the surge of Covid-19 vaccine stocks, offering an updated vaccine it says is effective against new variants.

The company said its new protein-based vaccine generated an immune response against the EG.5 subvariant, nicknamed “Eris,” that is increasing illness in the U.S.

Novavax stock rose 13% and another 2.5% overnight. It opened this morning at $8.27 per share, a market capitalization of $814 million. That’s still down 18% in 2023.

The Biden administration is urging all Americans to get Covid boosters this fall.

The Covid-19 Sequel

Other Covid plays were also rising from the junk heap. Moderna (NASDAQ:MRNA) was up 10%, BionTech (NASDAQ:BNTX) was up 6.5%, and Pfizer (NYSE:PFE) was up 1%. The rise in Novavax was more pronounced because its market cap is smaller.

Novavax’s vaccine is not based on the MRNA technology. The vaccine has an Emergency Use Authorization (EUA) and can be used as a booster.

One-third of adults in a recent poll believed misinformation that the mRNA vaccines cause sudden death. Workplaces and colleges that once mandated vaccines have since dropped the mandate, often under political pressure. Over 1.1 million Americans have died of Covid since the pandemic began in 2020.

The Food and Drug Administration hopes to make Covid vaccination a regular part of daily life, like flu vaccines are now. The new Covid shots will be “bivalent,” a single formulation working for both those previously vaccinated and the unvaccinated.

NVAX Stock: What Happens Next?

It’s unclear who will pay for the new vaccines, especially for the uninsured, and it’s likely many people will resist them.

Novavax hopes its non-MRNA formula gives it more of a chance against anti-vax protests. But it also must find a way to get paid.

As of this writing, Dana Blankenhorn held a LONG position in MRNA. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.