Novavax (NVAX) Stock Gains 7% on EMA Recommendations

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Novavax (NASDAQ:NVAX) stock is gaining Thursday on news of a recommendation for the vaccine company’s Covid-19 shot.

This new recommendation comes from a European Medicines Agency (EMA) committee. EMA is the drug regulator for the European Union (EU). The agency’s committee has recommended Novavax’s vaccine be administered to teens aged 12 to 17 years.

It’s worth mentioning that this is an expansion of the vaccine’s current approval in Europe. The vaccine already has the green light for use in adults. Use in teens will be the same as adult use, with two shots given three weeks apart, according to Seeking Alpha.

Today, Novavax also announced a New Drug Submission for its Covid-19 vaccine in Canada. Just like with the European news, the company is seeking use of the vaccine in teens between the ages of 12 and 17.

The filing from Novavax includes data from its PREVENT-19 Phase 3 clinical trial. Data from that trial shows low adverse events, a met primary endpoint and “80% clinical efficacy” when the Delta variant was in circulation.

While NVAX stock is on the rise, today’s latest news isn’t causing heavy trading of shares. About 2.5 million shares have changed hands as of this writing, compared to a daily average trading volume of 5.9 million shares. This might be due to the low use of the Novavax vaccine in adults in Europe.

NVAX stock is up 7% as of Thursday morning.

There’s more recent stock market news investors will want to know about below!

We’ve got all the hottest stock news traders need to know about for Thursday! This includes talk of a recession due to higher interest rates, Tesla (NASDAQ:TSLA) Cybertruck news and more. You can catch up on all of this news at the following links!

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.