Why Novavax Stock Got a Shot in the Arm Friday

In contrast to the wider stock market, shares of vaccine specialist Novavax (NASDAQ: NVAX) were cruising higher on Friday. The company's stock was up by 1.2% in midafternoon trading, against the nearly 2% decline of the S&P 500 index, on positive news about its coronavirus vaccine.

On Thursday after market hours, Novavax announced that its NVX-CoV2373 achieved its primary effectiveness endpoint in a phase 3 clinical trial involving adolescents. The company added that there were few instances of serious and severe events, and that the vaccine showed "a reassuring safety and tolerability profile."

Image source: Getty Images.

Source Fool.com