Why Novavax Shares Are Trading Higher Today

Novavax Inc NVAX is trading higher Monday morning after the company announced the European Medicines Agency recommended granting a conditional marketing authorization for its COVID-19 vaccine (NVX-CoV2373) to prevent COVID-19 in people 18 years of age and older.

Novavax could start delivering vaccines in the first quarter of 2022 if the EU drug regulator grants approval. Upon authorization, NVX-CoV2373 will be marketed in the EU as Nuvaxovid.

"Novavax appreciates the CHMP's positive opinion concerning our vaccine, and we look forward to a decision from the European Commission. An authorization from the Commission would deliver the first protein-based vaccine to the E.U. during a critical time when we believe having choice among vaccines will lead to increased immunization," said Stanley Erck, president and CEO of Novavax.

See Also: Here's How Much $100 Invested In Novavax 10 Years Ago Would Be Worth Today

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 $107.08 over a 52-week period.

The stock was up 8.60% at $236 at time of publication.

Photo: Maryland GovPics from Flickr.