Novavax Rallies Another 25% Intraday as FDA Considers New Vaccines for COVID-19 JN.1 Variant
$Novavax(NVAX.US$ rallied 20%+ Wednesday for the second time in the past three sessions as a U.S. Food and Drug Administration panel met to consider recommending a new COVID-19 vaccine for the disease's JN.1 variant.
NVAX gained as much as 25.2% to a $22.24 intraday high Wednesday, taking the stock up 48% since last Friday's May 31 close.
The stock rose as the FDA's Vaccines and Related Biological Products Advisory Committee met Wednesday to consider whether to back new COVID-19 jabs for JN.1 – a product that NVAX reportedly specializes in.
The news also sent rival vaccine maker $Moderna(MRNA.US$ up 6.5% to $154.71 shortly before 4 p.m. ET on Wednesday.
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