** Shares of vaccine maker Novavax NVAX.O rise 16% to $7.81 premarket

** The U.S. FDA has approved NVAX's COVID-19 vaccine, Nuvaxovid, under certain conditions

** The vaccine's approval had been delayed since April 1, but NVAX said it is not concerned about the limited approval

** The vaccine will need additional approval to change the strain of the virus it targets for future COVID-19 seasons

** It is a "win for NVAX amid FDA changes", enabling NVAX to gain "full-license" status, Jefferies analyst Roger Song said in a note

** The jab has been sold under an emergency use authorization since 2022

** As of last close, stock down 16.3% YTD

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))