Novavax Shares Drop 9%; U.S. Plans to Secure 3.2M Doses of Covid Vaccine

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Novavax Shares Drop 9%; U.S. Plans to Secure 3.2M Doses of Covid Vaccine

Dow Jones2022-07-12

By Kathryn Hardison

Shares of Novavax Inc. declined 9.3% to $69.01 on Monday after it said the U.S. government agreed to secure an initial 3.2 million doses of the company's Covid-19 vaccine if it is cleared by regulators for emergency use.

The U.S. Food and Drug Administration is reviewing Novavax's application for an emergency authorization. If it receives the FDA authorization, plus recommendation from the Centers for Disease Control and Prevention, Novavax said its vaccine would be the first protein-based Covid vaccine in the U.S.

Novavax shares were down 52% for the year.

Write to Kathryn Hardison at kathryn.hardison@wsj.com

$(END)$ Dow Jones Newswires

July 11, 2022 14:29 ET (18:29 GMT)

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KC69
·2022-07-12
Always the surprise price movement
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XLMM
·2022-07-12
Hope the approval comes asap!
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