Why Novavax Stock Is Jumping Today

Shares of Novavax (NASDAQ: NVAX) were jumping 8.2% as of 11:39 a.m. EST on Wednesday. The gain came after the company announced two positive developments earlier in the morning.

Novavax and its partner, the Serum Institute of India, said that the Philippine Food and Drug Administration granted Emergency Use Authorization (EUA) for Novavax's COVID-19 vaccine NVX-CoV2373 with the Matrix-M adjuvant. The company also confirmed that the European Medicines Agency has begun evaluating the application for Conditional Marketing Authorization for NVX-CoV2373.

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Source Fool.com