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Novavax Soars 16% as US FDA to Consider JN.1 Variant for Updated COVID Shots
** Shares of vaccine maker Novavax rise ~13% to $17.02 in early trading ** U.S. Food and Drug Administration staff reviewers say COVID-19 vaccine makers should consider targeting one of the currently dominant JN.1 variants and JN.1-derived sub-variants for 2024-25 vaccine campaign ** A committee of experts advising FDA is set to meet on Wednesday ** Committee will discuss design of COVID vaccines and vote whether to recommend shots target JN.1 variant that was dominant earlier this year ** NVAX has said it will only be able to offer a COVID vaccine in U.S. this autumn if regulators accept the shot it has started manufacturing that targets JN.1 variant ** Pfizer and U.S.-listed shares of BioNTech up 2.5% each, Moderna up about 4% ** Shots based on mRNA from PFE, BNTX and Moderna are quicker to develop than NVAX's protein-based shots ** Including session's move, NVAX shares have more than tripled YTD ** YTD, PFE up about 2%, BNTX down ~31% and MRNA up
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