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Delay of FDA Approval Of Novavax Inc (NVAX) COVID-19 Vaccine Has Hurt NVAX Stock

Novavax Inc (NVAX) fell 14.275% to $205.99 on Tuesday. By May, CEO Stanley Erk told Reuters the COVID-19 vaccine could be approved by the U.S. Food and Drug Administration. An intraday high of $229.95 was achieved by NVAX stock. Additionally, the stock hit a low of $198.27 during the trading session on Tuesday. On Tuesday, the average daily trading volume for Novavax Inc. was less than -38.05% of its daily average volume.

The head of Novavax commented that Industry-specific US regulators might delay a decision based on additional research being carried out in the U.K. study of the company’s vaccine. These studies could be completed “in the coming weeks.”


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According to Erk, negotiations with the authorities continue. Vaccine manufacturer Novavax Inc. (NVAX) may be required to submit data on their U.S. vaccine trial by the Food and Drug Administration (FDA). The deadline for obtaining a permit in the United States may be delayed until mid-summer because it may take another two months to complete testing in the country, the head of Novavax warned.

Data released in January from a U.K. trial suggested Novavax was 96% effective against the coronavirus first observed in the U.K. and 86% effective against the second strain first identified there. Vaccines with the estimated value of 110 million doses are scheduled for delivery by the third quarter.

Here we examine the past performance of Novavax Inc. (NVAX) and find out how the stock has been performing. During the last week, NVAX stock fell -15.31%. The share price has fallen so far this month by -6.77%. Over the last quarter, share prices rose by 63.89%. The stock price has gained 91.19% in the past six months and totaling 1613.73% in the previous year. The stock has achieved strong gains year-to-date (YTD) of 84.73%.

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