Novavax triumphs on US stock exchange despite lack of FDA approval

Shares in Novavax have increased significantly in value as the FDA starts preparations for vaccine updates. Novavax’s vaccine is not yet approved in the US, unlike those of competitors Pfizer and Moderna.

Photo: Dado Ruvic/REUTERS / X02714

On Thursday, shares in Novavax increased by 13.5% in value, while its larger competitor Moderna reached the upper echelons of the S&P 500 index after a 7.9% value increase.

It was a good day for the vaccine producers as investors can spot new growth on the horizon, as more and more countries prepare to vaccinate their populations with updated vaccines targeting the Omicron variant of Covid-19.

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