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Novavax Falls Despite FDA Approval Of Its COVID Vaccine

Novavax, Inc. (NVAX) shares are surprisingly tumbling, after getting FDA approval for its COVID-19 vaccines for adults for emergency use. The European Union has added a warning against severe allergic reactions for the first protein-based vaccine to be approved in the U.S.

NVX-CoV2373 got approval at a time when vaccination shot rates are much low. Last month, FDA voted against Novavax vaccine authorization pointing out risks.

Currently, shares are at $57.15, down 18.30 percent from the previous close of $69.95 on a volume of 5,777,392. For the 52-week period, the shares have traded in a range of $34.88-$277.80 on average volume of 6,672,833.

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