Why Novavax Shares Are Rising

Novavax, Inc. NVAX shares are trading higher after the company, along with Serum Institute of India, announced the Philippine FDA has granted emergency use authorization for Novavax's COVID-19 vaccine.

"Today's announcement from EMA brings Novavax another step closer to our goal of ensuring broad global access to our protein-based COVID-19 vaccine across Europe," said Stanley C. Erck, President and Chief Executive Officer, Novavax.

"Novavax looks forward to providing an additional vaccine option in Europe, built on a proven, well-understood technology platform, and thanks the European Commission for its ongoing partnership and confidence in our COVID-19 program," Erck stated.

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Novavax has a 52-week high of $331.68 and a 52-week low of $85.62.