According to S&P Global Market Intelligence,Novavax stock ( NASDAQ:NVAX ) was up 31.6% this week as of 3:18 p.m. ET on Thursday. The significant increase followed a string of favorable events for the vaccine manufacturer.
Market Analysis of Novavax Stock
Swiss authorities authorized the use of Novavax’s Nuvaxovid COVID-19 vaccine as a booster in people 18 and older on Monday. Novavax’s partner, SK Bioscience, has also applied for Nuvaxovid’s clearance as a booster in South Korea.
Novavax revealed encouraging findings for their prototype vaccine targeting the coronavirus omicron strain on Wednesday. On Thursday, the business released positive findings for its COVID-19/flu vaccine candidate.
This burst of excellent news was desperately needed for Novavax stock ( NASDAQ:NVAX ). Coming into this week, vaccination stocks had fallen by 89%.
The recommendation of Nuvaxovid as a booster in adults by Switzerland’s Federal Office of Public Health should have the greatest immediate effect of this week’s events. However, Swiss officials had previously granted the vaccine provisional approval as a booster in September.
The omicron booster data, on the other hand, is perhaps the most relevant news for the short future. Novavax said that their omicron booster prototype elicited a strong immunological response. On this front, the corpora...
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