What happened
Another day, another solid gain for Novavax (NVAX +3.45%). Shares of the vaccine maker were jumping 6.7% as of 11:09 a.m. ET on Friday. The increase came after Novavax and its partner, the Serum Institute of India (SII), announced that the World Health Organization had granted Emergency Use Listing (EUL) to Novavax's NVX-CoV2373 COVID-19 vaccine.
So what
Novavax and SII announced in February that they plan to supply 1.1 billion doses of NVX-CoV2373 to the COVID-19 Vaccines Global Access (COVAX) Facility, which is a global initiative to provide COVID vaccines to low- and middle-income countries across the world.
Image source: Getty Images.
Winning EUL for NVX-CoV2373 is an important step for Novavax and SII in distributing the vaccine globally. EUL is a prerequisite for exporting vaccines to many countries, including those in the COVAX Facility.
With today's gain, the vaccine stock is up around 24% this week. Novavax continues to make solid progress toward regulatory authorizations and approvals around the world. On Monday, the company announced that it had filed for Emergency Use Authorization (EUA) in the United Arab Emirates. Novavax also announced on Thursday that its partner, Takeda Pharmaceutical, has filed for Japanese approval of NVX-CoV2373.
Now what
There could be other catalysts on the way for Novavax over the next few weeks. The company expects to complete its EUA filing in the U.S. before the end of this year. Novavax also awaits regulatory decisions in several other countries and from the European Union.
