Shares of Novavax Inc. increased on Wednesday’s pre-market trading. The gain came after the United States secured 3.20 million doses of the COVID-19 vaccine from the company.
The vaccine maker edged up 2.02% or 1.41 points to $71.17 per share. This upturn followed its previous gain of 3.89% or 2.61 points to $69.76 per share on Tuesday.
Accordingly, the shots will be made available for free in the country after it gets authorization from the US Food and Drug Administration. The firm will also seek the recommendation of the Centers for Disease Control and Prevention. Last month, advisers to the FDA voted to recommend the vaccine for use in adults.
In line with this, Novavax must complete all necessary quality testing in the next few weeks. Eventually, the completion of the requirements would support the final release of the shots.
Last June, the firm said that the production of the initial doses would be in the Serum Institute of India.
Subsequently, Novavax’s shot is already available in over 40 countries. The drug is a more traditional type of vaccine employing technology similar to the process to combat diseases like influenza.
Meanwhile, on a larger trend, an ever-increasing number of Americans are now eligible to receive COVID-19 vaccines. In addition, last month, the CDC cleared the way for children six months through five years old to receive a coronavirus shot.
Novavax to step up from Pfizer, Moderna
Novavax aims to gain a foothold within roughly 27.00 million unvaccinated adults. Particularly those who do not want to receive a vaccine like the Pfizer /BioNTech or Moderna Inc. shots. The most popular inoculations used groundbreaking messenger RNA (mRNA) technology.
However, the Maryland-based firm remains at the back of the pack among coronavirus vaccine developers. Before the pre-market trading, its stocks have lost 51.18% or 73.14 points since the start of the year.
Nevertheless, analysts stayed optimistic about Novavax’s future trend. Specifically, the latest variants were more infectious, and the fight against this persistent scourge of an illness continues.