Why Novavax Stock Is Jumping Today
Shares of Novavax (NASDAQ: NVAX) were jumping 6.3% as of 10:44 a.m. ET on Monday. The nice gain came after the company announced that Swiss regulators have recommended Novavax's COVID-19 vaccine Nuvaxovid as a booster in adults ages 18 and older.
Novavax also announced on Monday morning that its partner, SK bioscience, has filed for approval in South Korea for Nuvaxovid to be used as a booster in adults. South Korean regulators had already approved the vaccine for primary immunization against the novel coronavirus earlier this year.
Today's move doesn't do much to reverse Novavax's dismal performance so far this year. The vaccine stock was down nearly 89% coming into this week. However, the news from both Switzerland and South Korea was definitely positive.
Source Fool.com
