Novavax (NVAX) Gets Nod for COVID-19 Booster Jab in South Korea – Yahoo Finance

Novavax NVAX 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.

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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/BioNTech BNTX and Moderna MRNA. 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.

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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.

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