(Novavax) Shares of Novavax rose more than 16% in premarket on Wednesday on news that the US Food and Drug Administration had approved its Covid-19 vaccine.
Novavax said the FDA and Related Biological Products Advisory Committee voted unanimously to recommend an Emergency Use Authorization of NVX-CoV2373 for individuals 18 years and above.
The biotech company says that the recommendation acknowledges the quality of data and the importance of a protein-based Covid-19 vaccine option.
The company said that in the trial data, its Covid-19 vaccine showed a 90.4% efficacy. The company also said that serious and severe adverse effects of the vaccine were low.
The potential EUA is a plus for Novavax as it currently has received authorization in at least 40 countries. The vaccine also has an Emergency Use Listing by the World Health Organization.
NVAX:NASDAQ is up +16.13% in premarket.
