Shares of Novavax (NVAX) are surging after the company announced it will meet delivery expectations for the fall COVID vaccine push. All COVID vaccines will use the JN.1 strain, part of the Omicron subvariant family. The FDA also set a final date for fully approving the company's COVID vaccine beyond its emergency use authorization. Anjalee Khemlani joins the Morning Brief to break down the details. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This article was written by Gabriel Roy
Drugmakers are aiming to launch this year’s shots by the beginning of September but have been waiting on the FDA to decide which strain of the virus to target. At their meeting on Wednesday, the FDA’s advisers nevertheless recommended that this year’s shots target JN.1, saying they expect a JN.1 shot to offer sufficient protection against the strain’s descendants.
Novavax stock zipped to a nearly two-year high Thursday after the FDA set a potential approval date for its Covid vaccine in April.