What's Going On With Novavax Shares Spiking Higher Today

Novavax, Inc. NVAX shares are trading higher by 1.60% to $18.92 Wednesday morning. The FDA granted Emergency Use Authorization for the company's COVID-19 vaccine as a booster for adults after completion of primary vaccination with an authorized or approved COVID-19 vaccine.

What Else?

Novavax says the next step for the vaccine is a policy recommendation for use as a first booster from the Centers for Disease Control and Prevention (CDC). 

Doses of the Novavax COVID-19 Vaccine, Adjuvanted are available for use in the U.S. pending this final step.

"The U.S. now has access to the Novavax COVID-19 Vaccine, Adjuvanted, the first protein-based option, as a booster," said Stanley C. Erck, President and Chief Executive Officer, Novavax.

"According to CDC data, almost 50 percent of adults who received their primary series have yet to receive their first booster dose. Offering another vaccine choice may help increase COVID-19 booster vaccination rates for these adults," Erck stated.

According to data from Benzinga Pro, Novavax has a 52-week high of $236.50 and a 52-week low of $16.00.