Why Novavax Stock Is Slipping Today

Shares of Novavax (NASDAQ: NVAX) were slipping 3% as of 11:21 a.m. ET on Monday after falling as much as 6.3% earlier in the day. The decline appeared to be linked to a disappointing uptake for the company's COVID-19 vaccine in Germany.

European news organization The Local reported Monday morning that Germans who are skeptical about vaccination haven't been won over by Novavax's vaccine, branded as Nuvaxovid. When Novavax secured European Commission approval for Nuvaxovid, some predicted that the availability of a protein vaccine would be more appealing to individuals who were hesitant to receive a messenger RNA or DNA vaccine.

Close to 4 million doses of Nuvaxovid have been delivered to Germany. However, German TV news program Tagesschau stated last week that only around 40,000 people have received the vaccine nationwide so far.

Source Fool.com