Why Novavax Stock Is in Retreat Mode Today

Shares of the vaccine-maker Novavax (NASDAQ: NVAX) are down by a hefty 12.2% as of 12:30 p.m. ET Thursday afternoon. Earlier today, the biotech announced a two-pronged strategy to address the emerging threat from the omicron variant. 

Specifically, Novavax said that it is evaluating the effectiveness of its current recombinant nanoparticle protein-based vaccine, NVX-CoV2373, against the omicron variant. In addition, the biotech announced that it has begun development on an omicron-specific construct of its SARS-CoV-2 spike protein antigen. 

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Source Fool.com