Novavax Won a Nod From FDA Advisors. Now What?
It's the moment Novavax (NASDAQ: NVAX) and its investors have been waiting for. A U.S. Food and Drug Administration (FDA) advisory panel voted for the authorization of Novavax's coronavirus vaccine candidate. The FDA doesn't have to follow the committee's advice. But it usually does. An FDA decision may come in a matter of days.
Meanwhile, more than 40 other countries have authorized the vaccine. And Novavax began generating significant revenue from it in the first quarter. Still, the shares suffered as investors worried about the vaccine's fate in the U.S. Novavax applied for authorization earlier in the year. And investors hoped for a decision in a matter of weeks. The stock dropped more than 66% from the start of the year to the FDA advisory committee meeting yesterday. Trading of the stock was halted during the meeting. Today, the shares had climbed 4.42% at 9:30 a.m. Now that we've reached this much-anticipated moment, we might ask, "What happens next?" Does this really represent a major win? Let's find out.
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Source Fool.com
