Why Novavax Is Rallying Again Today

·1 min read
Why Novavax Is Rallying Again Today

Shares of coronavirus vaccine developer Novavax (NASDAQ: NVAX) are up 6.7% to $238.56 apiece as of 10:30 a.m. EDT. On Aug. 4, Novavax announced the European Commission would purchase 100 million doses of its coronavirus vaccine candidate NVX-CoV2373, with an additional option to purchase 100 million doses by the end of 2023. In clinical studies, the vaccine candidate demonstrated 89.7% to 96.4% overall efficacy in immunization, depending on the strain of the coronavirus.

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