What's Going On With Novavax Shares Today?

Novavax Inc NVAX is trading lower Friday following reports suggesting that the company could have trouble meeting its 2022 vaccine targets.

Novavax's ability to obtain U.S. Food and Drug Administration approval and to produce enough doses in manufacturing sites other than India's Serum Institute remains in question, according to a Politico report.

The report suggests that Novavax could "struggle to meet its 2022 targets" if it does not receive clearance to produce vaccines at the company's U.S. and European locations, citing two senior officials working on the Biden administration’s international pandemic response.

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Novavax also announced Friday that it submitted the final data package to the U.S. Food and Drug Administration in order to fulfill the prerequisites for the emergency use authorization application request for its COVID-19 vaccine, NVX-CoV2373.

"Novavax is committed to delivering our protein-based vaccine in the United States, where the COVID-19 pandemic continues to evolve with the emergence of new variants, ongoing need to ensure primary vaccination for the eligible population, and need for boosting," said Stanley Erck, president and CEO of Novavax.

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NVAX Price Action: Novavax has traded as low as $109.01 and as high as $331.68 over a 52-week period.

The stock was down 4.58% at $147.75 Friday afternoon.

Photo: Maryland GovPics from Flickr.