Novavax Inc (NASDAQ:NVAX) shares are trading higher Thursday after the company announced that its COVID-19 vaccine was recommended for an expanded conditional marketing authorization in the European Union for adolescents aged 12 through 17.
The European Medicines Agency committee based its recommendation of Nuvaxovid on results from the Phase 3 PREVENT-19 clinical trial. Nuvaxoid is a protein-based vaccine engineered from the genetic sequence of the first strain of SARS-CoV-2, the virus that causes COVID-19 disease.
"This recommendation brings us closer to offering adolescents in the EU the first protein-based COVID-19 vaccine developed using an innovative approach to traditional technology," said Stanley Erck, president and CEO of Novavax.
The Novavax COVID-19 vaccine still has not been authorized for use in the U.S. and the trade name Nuvaxovid has not yet been approved by the U.S. Food and Drug Administration.
See Also: Why Alibaba Shares Are Rising Today
NVAX Price Action: Novavax has a 52-week high of $277.79 and a 52-week low of $34.88.
The stock was up 10.8% at $50.37 at press time, according to data from Benzinga Pro.
Photo: Jernej Furman from Flickr.
