Novavax $NVAX stock is surging higher as the stock confirms a reversal of the previous downtrend.
The WHO said global COVID-19 cases are up 30% in the last two weeks, driven by BA.4 and BA.5 waves in Europe and the US, with BA.2.75 detected in India.
On July 5, 2022, Novavax, Inc. (Nasdaq: NVAX), a biotechnology company dedicated to developing and commercializing next-generation vaccines for serious infectious diseases, announced that the European Commission (EC) has approved the expanded conditional marketing authorization (CMA) of Nuvaxovid™ (NVX-CoV2373) COVID-19 vaccine in the European Union (EU) for adolescents aged 12 through 17. The approval follows the positive recommendation made by the European Medicines Agency’s Committee for Medicinal Products for Human Use on June 23, 2022.
“With this authorization, we are extremely pleased to be able to offer our Nuvaxovid COVID-19 vaccine to adolescents in the EU,” said Stanley C. Erck, President and Chief Executive Officer, Novavax. “Our protein-based vaccine was developed using an innovative approach to traditional technology and has demonstrated efficacy and safety in both adolescents and adults.”
The chart of NVAX looks like a classic turnaround play with the previous downtrend reversing.
