What's Going On With Novavax Stock?

Novavax Inc NVAX shares are volatile. The company on Monday announced that its updated Covid-19 vaccine received emergency use authorization in Taiwan.

What Happened: The Taiwan Food and Drug Administration granted emergency use authorization for Nuvaxovid XBB.1.5 dispersion for active immunization to prevent COVID-19 in individuals 12 years of age and older.

"We are working closely with Taiwan's authorities to ensure doses of our updated protein-based non-mRNA COVID-19 vaccine are made available at vaccination centers across Taiwan as soon as possible," said John Jacobs, president and CEO of Novavax.

"As we head into the holiday season with more time spent together and indoors, COVID-19 infection rates are likely to rise and our best line of defense is vaccination."

Authorization was based on non-clinical data showing that the updated vaccine induced functional immune responses for the XBB.1.5, XBB.1.16 and XBB.2.3 variants. 

Novavax will deliver updated vaccine doses to Taiwan under its existing advanced purchase agreement. The vaccine doses are expected to be widely available at vaccination centers across Taiwan.

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NVAX Price Action: Novavax shares were down 1.30% at $5.33 at the time of writing, according to Benzinga Pro.

Photo: Marco Verch from Flickr.