According to Reuters, on June 8th, It was a good day for Novavax Inc (NVAX.O) as its COVID-19 vaccine received overwhelming support from the Food and Drug Administration, putting the injection one step closer to being available in the United States of America.
Novavax, on the other hand, anticipates that the FDA will soon approve the fourth vaccine for the United States, where it hopes it will become the vaccine of choice for vaccination doubters.
Because of the favourable vote, Novavax CEO Stanley Erck stated on Tuesday, their evidence was recognised as being strong and a protein-based Covid-19 vaccine was an important step forward.
According to experts, this is a positive step for Novavax since it lowers doubt about an already approved vaccine that had a long road to approval.
Despite being alarming, Jefferies analyst Roger Song predicted similar warnings like those issued by competitor mRNA vaccine manufacturers Moderna Inc (MRNA.O) and Pfizer as a result of the incidences of cardiac inflammation (PFE.N).
SVB Securities analyst Mani Foroohar called the vote a “threat to the dominance of mRNA vaccines in the COVID-19 market.”
To be accessible in the United States, a vaccination must be approved by the Centers for Disease Control and Prevention of the United States before FDA approval is granted.
Before the bell rang, Novavax’s shares had risen by 19% to $56.59.