Why Novavax Stock Is Slipping Again Today

Shares of Novavax (NASDAQ: NVAX) were slipping 3.8% lower at 12:01 p.m. EDT on Friday. This marked the second day of declines after reports on Thursday revealed that the Indian government could take longer than expected to grant emergency use authorization for Novavax's COVID-19 vaccine, NVX-CoV2373.

Novavax released a statement on Friday morning about Takeda's (NYSE: TAK) agreement to provide 150 million doses of NVX-CoV2373 to Japan. If the company was trying to change the story from the reported EUA delay in India, it didn't work. The statement didn't give investors any additional information on the supply agreement, which was first announced on Tuesday, so it's basically old news at this point.

Image source: Getty Images.

Continue reading

Source Fool.com