Why Novavax Stock Is Tanking Today

Shares of Novavax (NASDAQ: NVAX) were tanking 12.8% lower as of 10:43 a.m. EDT on Wednesday. The steep decline came after Politico reprted that Novavax "faces significant hurdles in proving it can manufacture a shot that meets regulators' quality standards."

Politico's anonymous sources reportedly stated that Novavax's "issues are more concerning than previously understood." These sources expressed their view that the company could take until the end of 2022 to resolve its manufacturing issues and win regulatory authorizations and approvals.

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Source Fool.com