The U.S. Food and Drug Administration (FDA) on Wednesday (19th) approved Novavax’s new crown vaccine as an additional dose for adults. After the news broke, Novavax’s shares rose 3% during the session, but then turned black and fell.
At press time, Novavax (NVAX-US) was down 0.38% at $18.57 per share.
Wednesday’s decision by the FDA follows an earlier approval of the Novavax vaccine as a two-dose regimen for children 12 and older.
The government hopes that protein vaccines such as Novavax will allow some people who have doubts about RNA vaccine technologies such as Pfizer and Moderna to use them with peace of mind. Have doubts and hesitate to strike.
The FDA’s authorization not only gives those who cannot receive booster doses against Omicron the vaccine, but also an alternative for those who do not receive other booster doses. The U.S. Centers for Disease Control and Prevention (CDC) also now recommends the vaccine as a booster.
While Novavax has been working hard to boost sales of its own vaccine, it halved its full-year revenue forecast in August and said sales of the vaccine in the U.S. would not increase further this year.
Since Novavax was first approved by regulators in July, only about 35,000 doses of the vaccine have been administered across the United States so far, according to the CDC. However, the data also shows that more than half of the U.S. population eligible for booster doses has not yet been vaccinated.
Novavax Chief Executive Stanley Erck said in a statement that offering another vaccine option may help increase vaccination rates for adults who have not yet received a new crown vaccine booster.