Novavax Inc NVAX is trading significantly higher Tuesday after the head of the Vaccines Task Force for the European Medicines Agency reportedly said the company's COVID-19 vaccine could soon receive authorization in Europe.
The health official reportedly announced that the agency is likely to approve the Novavax vaccine by next week.
"The data speaks of an efficacy of around 90% and are in any case solid. I believe that the vaccine can get approval by mid-December," the health official said, according to reports.
Related Link: Novavax Shares Jump After Head Of EU Drug Regulator Hints At Imminent Authorization For COVID-19 Vaccine
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 $106.11 over a 52-week period.
The stock was up 22.80% at $174.48 at time of publication.
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