Novavax Stock Jumps After FDA Approves Updated Covid-19 Vaccine

Novavax stock shot higher after the Food and Drug Administration gave the go-ahead to its updated vaccine for Covid-19, after competing vaccines from Pfizer – BioNTech and Moderna were approved last month. The FDA authorized an updated version of the Novavax vaccine, which targets the same Covid-19 variant as the updated Pfizer and Moderna shots, known as XBB.1.15.