Why Novavax Shares Are Getting Hammered After Moderna, Pfizer And BioNTech News

Novavax, Inc. NVAX shares are trading lower by 6.76% to $32.84 Wednesday afternoon in possible reaction to competitor Moderna Inc MRNA receiving FDA authorization for emergency use of its Omicron-targeting COVID-19 booster. Pfizer Inc. PFE and BioNTech SE - ADR BNTX were also granted Emergency Use Authorization for their BA.4/BA.5-adapted Bivalent COVID-19 booster.

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Moderna Wednesday announced that it has received emergency use authorization (EUA) from the U.S. Food and Drug Administration (FDA) for its BA.4/.5 Omicron-targeting bivalent COVID-19 booster vaccine, mRNA-1273.222.

Authorization has been given for a 50 µg booster dose for adults over 18 years of age who have received either a primary series or an initial booster of any of the authorized or approved COVID-19 vaccines.

The 50 µg booster dose of mRNA-1273.222 includes 25 µg of mRNA encoding for the spike protein of BA.4/.5 and 25 µg encoding for the original strain of the SARS-CoV-2 virus.

Meanwhile, Pfizer and BioNTech Wednesday announced that the U.S. Food and Drug Administration (FDA) granted Emergency Use Authorization (EUA) of a 30-µg booster dose of the Pfizer-BioNTech COVID-19 Vaccine, Bivalent (Original [15 µg] and Omicron BA.4/BA.5 [15 µg]) for individuals ages 12 years and older.

An application for an Omicron-adapted bivalent vaccine for children 5 through 11 years of age is planned for submission to FDA in early October.

The companies are working with the FDA to prepare an application for an Omicron-adapted bivalent vaccine in children 6 months through 4 years of age.

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According to data from Benzinga Pro, Novavax has a 52-week high of $277.80 and a 52-week low of $32.62.