24/7 Market News Snapshot 30 August, 2024 – Novavax Inc (NASDAQ:NVAX)

August 30, 2024

DENVER, Colo., 30 August, 2024 (247marketnews.com) – (Nasdaq:NVAX) are discussed in this article.
Novavax, Inc. (Nasdaq:NVAX), a prominent player in the field of protein-based vaccines, has experienced a substantial boost in stock performance, with shares rising by approximately 10.43% today. Opening at $11.45 and currently trading at $12.59, the stock’s movement reflects a significant surge in investor interest, as evidenced by a trading volume of 9.56 million shares. This upward trajectory may signal potential for continued gains, particularly as the stock approaches established resistance levels from previous sessions.

The positive sentiment is further fueled by Novavax’s recent announcement that its COVID-19 Vaccine, Adjuvanted (2024-2025 Formula) (NVX-CoV2705), has received Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA) for those aged 12 and older. Distinguishing itself as the only protein-based vaccine currently available in the United States to combat COVID-19, this vaccine aims to broaden the strategies available in the ongoing battle against the virus.

The FDA’s authorization follows unanimous backing from the U.S. Centers for Disease Control and Prevention (CDC) and is grounded in strong data showcasing the vaccine’s effectiveness against the JN.1 variant, which is the predominant strain in circulation. In a bid to enhance accessibility, Novavax intends to distribute pre-filled syringes across thousands of pharmacies and grocery stores nationwide.

John C. Jacobs, President and Chief Executive Officer of Novavax, emphasized the significance of this authorization, highlighting the vaccine’s cross-reactivity against various lineage variants and its critical role in public health preparedness. Leveraging Novavax’s proprietary Matrix-M™ adjuvant technology, the vaccine promises not only an improved immune response but also long-lasting protection against COVID-19. With this latest development, Novavax reaffirms its commitment to advancing innovative vaccination solutions in the face of ongoing public health challenges.

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