Novavax Shares Rise on FDA License Application Approval for Nuvaxovid

Dow Jones

2025/05/19

By Denny Jacob

Novavax shares rose in premarket trading after disclosing that the Food and Drug Administration approved an application for Covid-19 treatment Nuvaxovid.

Shares rose 10% to $7.41 in premarket trading on Monday. The stock is down 21% on the year.

The biotechnology company said the FDA approved the biologics license application for Nuvaxovid to prevent Covid-19 in adults ages 65 and up and individuals ages 12 through 64 who have at least one underlying condition that puts them at high risk for severe outcomes from the coronavirus.

The license approval triggered a $175 million milestone payment from Sanofi, said Novavax.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

May 19, 2025 07:26 ET (11:26 GMT)

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