WHO Issues Emergency Use Listing to Novavax-Serum Institute's COVID-19 Vaccine

The World Health Organization issued an emergency use listing to Covovax, Serum Institute of India's version of Novavax Inc's NVAX COVID-19 vaccine.

• The vaccine, named Covovax, is produced by the Serum Institute of India and is part of the COVAX facility portfolio.
• It requires two doses and is stable at 2 to 8 °C refrigerated temperatures. 
• Related Link: Serum Institute's CEO Expects To Launch Novavax Vaccine For Kids In Six Months: Reuters.
• The vaccine uses a novel platform and is produced by creating an engineered baculovirus containing a gene for a modified SARS-CoV-2 spike protein.
• The originator product produced by Novavax, named Nuvaxovid, is currently under assessment by the European Medicines Agency (EMA). 
• WHO will complete its assessment of this vaccine once the EMA has issued its recommendation.
• Price Action: NVAX shares are up 11% at $216.32 during the market session on the last check Friday.