Novavax's COVID-19 Shot Just In Time, Optimism Surrounds As Demand Picks Up Momentum
Portfolio Pulse from Vandana Singh
The FDA has granted emergency use authorization to Novavax Inc's COVID-19 Vaccine, Adjuvanted (2023-2024 Formula) (NVX-CoV2601) for individuals aged 12 and older. The approval comes at a time when the demand for COVID-19 vaccines is increasing. Novavax has a contracted price of $72.5/dose with the CDC and a price of $130/dose subject to insurance/pharmacy-level rebates and discounts. Despite the positive news, NVAX shares are down 6%.
October 04, 2023 | 7:19 pm
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Novavax's COVID-19 vaccine has received FDA emergency use authorization. Despite this, the company's shares are down 6%.
The FDA's emergency use authorization for Novavax's COVID-19 vaccine is a significant milestone for the company. However, despite this positive news, the company's shares have fallen by 6%. This could be due to a variety of factors, including market volatility or investor sentiment. It's also possible that the market had already priced in the approval, leading to a 'sell the news' effect.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100