** 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;))
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