Novavax Inc (NASDAQ: NVAX) shares are trading lower Tuesday. The stock fell to new 52-week lows early in the session, but has since recovered.
Novavax on Tuesday announced that its partner, Takeda, received manufacturing and marketing approval from the Japan Ministry of Health, Labour and Welfare for its Nuvaxovid Intramuscular Injection for primary and booster immunization in individuals aged 18 and older. Nuvaxovid is Novavax’ novel recombinant protein-based COVID-19 vaccine.
Takeda, which holds the Marketing Authorization for Nuvaxovid in Japan, plans to begin distributing doses purchased by the Japanese government as soon as possible. Nuvaxovid has not yet been authorized for use in the U.S.
Novavax is a biotechnology company dedicated to developing and commercializing next-generation vaccines for serious infectious diseases.
NVAX 52-Week Range: $53.85 – $277.79
According to data from Benzinga Pro, the stock was down 1.14% at $54.53
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