By Sabela Ojea

 

Shares of Novavax on Monday dropped after the U.S. Food and Drug Administration authorized for emergency use Moderna and Pfizer's updated Covid-19 vaccines.

At 15:21 pm E.T., Novavax shares were down 13%, at $7.80. The stock has dropped 22% since the year started, and 76% in the past 12 months.

The vaccine maker said doses of its updated Covid-19 vaccine have just arrived in the U.S. and are pending FDA and the Centers for Disease Control and Prevention action for distribution this fall.

"We are working closely with the FDA on its review of our Emergency Use Authorization application," Novavax's Chief Executive John Jacobs said.

 

Write to Sabela Ojea at sabela.ojea@wsj.com

 

(END) Dow Jones Newswires

September 11, 2023 15:44 ET (19:44 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
Novavax (NASDAQ:NVAX)
Historical Stock Chart
Von Jan 2024 bis Feb 2024 Click Here for more Novavax Charts.
Novavax (NASDAQ:NVAX)
Historical Stock Chart
Von Feb 2023 bis Feb 2024 Click Here for more Novavax Charts.