Novavax Rallies 20%+ on Report FDA Might Soon Recommend New COVID Vaccine for JN.1 Variant
$Novavax (NVAX.US)$ soared more than 20% Monday on a report that the U.S. Food and Drug Administration is considering recommending a new COVID-19 vaccine for the disease's JN.1 variant – a product that NVAX reportedly specializes in.
Novavax rose 21.2% to close at an 18-month high of $18.22 after Yahoo Finance reported that the FDA might soon recommend a JN.1 variant vaccine. The rally took NVAX to its highest closing price since November 2022.
Rival vaccine maker $Moderna (MRNA.US)$ rose 3.7% on the news, while $Pfizer (PFE.US)$ gained 2.3%, although Yahoo Finance said those firms rely less on COVID-19 vaccines than Novavax does.
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Former top editor at Seeking Alpha, Fidelity.com, TheStreet.com and UPI.
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