Why Novavax Stock Is Trading Higher Tuesday
Portfolio Pulse from Adam Eckert
Novavax Inc's stock is trading higher after the company announced that its updated COVID-19 vaccine generated neutralizing antibody responses to the EG.5.1 and XBB.1.16.6 subvariants. The company is in the process of submitting applications for its XBB.1.5 COVID vaccine candidate to regulatory authorities. Novavax shares were up 5.7% at the time of publication.
August 22, 2023 | 1:41 pm
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POSITIVE IMPACT
Novavax's stock is trading higher due to positive results from its updated COVID-19 vaccine against new variants. The company is also preparing to submit applications for its XBB.1.5 vaccine candidate.
The positive results from Novavax's updated COVID-19 vaccine against new variants have increased investor confidence in the company, leading to a rise in its stock. The company's announcement that it is preparing to submit applications for its XBB.1.5 vaccine candidate to regulatory authorities further boosts this confidence.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100