We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Novavax (NVAX) Gets Nod for COVID-19 Booster Jab in South Korea
Read MoreHide Full Article
Novavax (NVAX - Free Report) announced that its partner SK bioscience received expanded manufacturing and marketing approval in South Korea for the use of Nuvaxovid (NVX-CoV2373), its protein-based COVID-19 vaccine, as a booster dose in adults aged 18 years and older.
This label expansion will enable Novavax to target a larger segment of the adult population who have already completed a primary vaccination series but are yet to receive a booster dose.
Last year, Nuvaxovid received authorization in South Korea for use as a primary series in adults and adolescents aged 12 years and older.
This approval is based on multiple mid-stage studies conducted by Novavax separately in the United States, Australia, South Africa and the U.K., evaluating a booster dose of NVX-CoV2373. Data from these studies showed that a third dose of the vaccine generated increased immune responses compared with the data observed in late-stage studies evaluating Nuvaxovid. The vaccine also induced a robust antibody response when used as a heterologous booster dose.
Shares of Novavax have plunged 86.5% so far this year compared with the industry’s 8.9% fall.
Image Source: Zacks Investment Research
Novavax is currently marketing multiple versions of NVX-CoV2373 — one marketed in partnership with the Serum Institute of India under the trade name Covovax and another version produced by Novavax that is marketed under the trade name Nuvaxovid. In the United States, the vaccine is marketed as Novavax COVID-19 Vaccine, Adjuvanted. Novavax’s COVID-19 vaccine has been authorized for use as a booster in more than 35 countries, including the United States and the European Union.
We note that Novavax suffered a lot recently, as the company’s stock has been down for some time now. One of the primary reasons for this was the delayed launch of NVX-CoV2373, compared with its peers like Pfizer (PFE - Free Report) /BioNTech (BNTX - Free Report) and Moderna (MRNA - Free Report) . The vaccines developed by these companies dominate the market space for COVID vaccinations.
Novavax is currently lagging behind Moderna and Pfizer/BioNTech, whose vaccines have received full approval for use in adults in the United States. While Moderna’s vaccine is approved for adults aged 18 years and older, the Pfizer/BioNTech vaccine is approved for use in individuals aged 12 years and older. Both these vaccines are also authorized for use in individuals aged six months and above in the United States.
Moderna and Pfizer/BioNTech have also secured EUA from the FDA for using their respective Omicron BA.4/BA.5-adapted bivalent vaccines as a single booster dose. The bivalent vaccines of these companies are authorized for use in individuals aged six months and older.
Novavax is also lagging in the development of Omicron-specific vaccines. This makes the company vulnerable in terms of gaining a substantial market share in the targeted space.
Image: Shutterstock
Novavax (NVAX) Gets Nod for COVID-19 Booster Jab in South Korea
Novavax (NVAX - Free Report) announced that its partner SK bioscience received expanded manufacturing and marketing approval in South Korea for the use of Nuvaxovid (NVX-CoV2373), its protein-based COVID-19 vaccine, as a booster dose in adults aged 18 years and older.
This label expansion will enable Novavax to target a larger segment of the adult population who have already completed a primary vaccination series but are yet to receive a booster dose.
Last year, Nuvaxovid received authorization in South Korea for use as a primary series in adults and adolescents aged 12 years and older.
This approval is based on multiple mid-stage studies conducted by Novavax separately in the United States, Australia, South Africa and the U.K., evaluating a booster dose of NVX-CoV2373. Data from these studies showed that a third dose of the vaccine generated increased immune responses compared with the data observed in late-stage studies evaluating Nuvaxovid. The vaccine also induced a robust antibody response when used as a heterologous booster dose.
Shares of Novavax have plunged 86.5% so far this year compared with the industry’s 8.9% fall.
Image Source: Zacks Investment Research
Novavax is currently marketing multiple versions of NVX-CoV2373 — one marketed in partnership with the Serum Institute of India under the trade name Covovax and another version produced by Novavax that is marketed under the trade name Nuvaxovid. In the United States, the vaccine is marketed as Novavax COVID-19 Vaccine, Adjuvanted. Novavax’s COVID-19 vaccine has been authorized for use as a booster in more than 35 countries, including the United States and the European Union.
We note that Novavax suffered a lot recently, as the company’s stock has been down for some time now. One of the primary reasons for this was the delayed launch of NVX-CoV2373, compared with its peers like Pfizer (PFE - Free Report) /BioNTech (BNTX - Free Report) and Moderna (MRNA - Free Report) . The vaccines developed by these companies dominate the market space for COVID vaccinations.
Novavax is currently lagging behind Moderna and Pfizer/BioNTech, whose vaccines have received full approval for use in adults in the United States. While Moderna’s vaccine is approved for adults aged 18 years and older, the Pfizer/BioNTech vaccine is approved for use in individuals aged 12 years and older. Both these vaccines are also authorized for use in individuals aged six months and above in the United States.
Moderna and Pfizer/BioNTech have also secured EUA from the FDA for using their respective Omicron BA.4/BA.5-adapted bivalent vaccines as a single booster dose. The bivalent vaccines of these companies are authorized for use in individuals aged six months and older.
Novavax is also lagging in the development of Omicron-specific vaccines. This makes the company vulnerable in terms of gaining a substantial market share in the targeted space.
Novavax, Inc. Price
Novavax, Inc. price | Novavax, Inc. Quote
Zacks Rank
Novavax currently carries a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.