FDA authorizes updated Novavax COVID-19 Vaccine

Shares of US protein-based vaccine developer Novavax (Nasdaq: NVAX) closed up 8.6% and added a further 1.8% to $12.60 in after-hours trading on Friday, on a positive development for its COVID-19 vaccine.

The US Food and Drug Administration granted emergency use authorization (EUA) for an updated version of the Novavax’ COVID-19 vaccine that more closely targets currently circulating variants to provide better protection against serious consequences of COVID-19, including hospitalization and death. The vaccine is marketed under the trade name Nuvaxovid outside of the USA.

The FDA’s decision comes only a week after the agency approved a new round of messenger RNA shots from Pfizer (NYSE: PFE) and BioNTech (Nasdaq: BNTX), as well as Moderna (Nasdaq: MRNA), which both target an offshoot of JN.1 called KP.2.