Shares of Novavax Inc. NVAX, -4.13% gained 2.5% in premarket trading on Friday, the day after the company said its experimental COVID-19 vaccine had an 80% efficacy rate in teens. The results stem from a Phase 3 clinical trial that occurred when delta was the most dominant strain of the virus. The Food and Drug Administration is currently reviewing the company’s request to authorize its protein-based vaccine in adults; the shots have already been authorized in the U.K. and in Europe. The vaccine candidate is a well-established type of vaccine that is also used for hepatitis B shots and pneumococcal polysaccharide shots, according to GAVI. Novavax said it plans to begin submitting regulatory filings for authorization of its shot in teens between the ages of 12 and 17 years old in the first quarter. Novavax’s stock has tumbled 70.5% over the past year, while the S&P 500 SPX, -1.81% has gained 15.2%.
