Why Novavax Stock Is Soaring Today

Shares of Novavax (NASDAQ: NVAX) were soaring 24.1% higher as of 12:35 p.m. ET on Tuesday. European Medicines Agency head Emma Cooke told European Union health ministers on Tuesday that Novavax's COVID-19 vaccine could be authorized in the "near future." Also, a study led by the University of Oxford found that a second dose of Novavax's vaccine following an initial dose of AstraZeneca's (NASDAQ: AZN) vaccine was significantly more effective than two doses of the AstraZeneca vaccine.