Novavax hits 3-month high as EU clears partner for COVID vaccine supply

SK Bioscience Co

07/07/2022 18:02

** Novavax Inc's shares  NVAX.O  jump as much as 15% to a
three-month high of $72; now up 11.5%
    ** Says European Medicines Agency approved its South Korean
partner SK Bioscience  302440.KS  as a supplier of co's
Nuvaxovid COVID-19 vaccine (https://bit.ly/3IjxdRX)
    ** Thursday's news yet another positive development for co,
which last month was backed by advisers to FDA for an
authorization; stock up by more than 50% since then  urn:newsml:reuters.com:*:nL1N2XU16I
    ** Novavax's COVID-19 shots, however, yet to get FDA
authorization as regulator reviews the company's manufacturing
processes  urn:newsml:reuters.com:*:nL4N2XW2XM
    ** Five of 7 brokerages rate the stock "buy" or higher, 1
"hold" and 1 "sell"; their median PT is $181 - Refinitiv data
    ** Despite gains over the last month, stock down 50% YTD vs
a 15% decline in the Nasdaq Biotechnology index  .NBI 

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))