Why Novavax Shares Are Surging Higher Today

Novavax Inc NVAX is trading significantly higher Thursday after the company, along with Serum Institute, announced a submission to the World Health Organization for emergency use listing for Novavax's COVID-19 vaccine candidate.

Emergency use listing is a prerequisite for exports to multiple countries. 

"Today's submission of our protein-based COVID-19 vaccine to WHO for emergency use listing is a significant step on the path to accelerating access and more equitable distribution to countries in great need around the world," said Stanley Erck, president and CEO of Novavax.

"It represents another major milestone in Novavax' transformation into a commercial global vaccine company and reinforces the value of global collaboration and need for multiple approaches to help control the pandemic," Erck added.

Novavax is a biotechnology company that develops vaccines. The company works in the clinical stage of development with a focus on delivering novel products that prevent a broad range of diseases.

NVAX Price Action: Novavax has traded as high as $331.68 and as low as $76.59 over a 52-week period.

The stock was up 10.30% at $255.90 at time of publication.

Photo: Maryland GovPics from Flickr.