Novavax COVID-19 booster shot granted EUA for adults

Shares of Novavax Inc. NVAX, -0.43% rallied 1.9% in morning trading Wednesday, after the biotechnology company said its protein-based COVID-19 vaccine booster was granted emergency use authorization (EUA) for adults. The booster shot is OK’d for people at least 18 years old who have completed primary vaccinations. The company said in trials, any local and systemic reactions from the booster had a median duration of about two days. Of those receiving the booster, 81.1% had pain/tenderness at the sight of the shot, 63.4% felt fatigue/malaise, 63.0% had muscle pain, 52.9% had headaches, 30.3% felt joint pain and 14.7% had nausea/vomiting. The booster now awaits recommendation for use as a first booster from the Centers for Disease Control and Prevention (CDC). The stock has tumbled 67.3% over the past three months, while the S&P 500 SPX, -0.34% has declined 5.6%.