Written by Sriparna Roy
(Reuters) – The U.S. Food and Drug Administration has granted emergency use authorization for an updated version of Novavax’s COVID shot, targeting the JN.1 strain of the virus. This new vaccine is approved for individuals aged 12 and older.
Following the announcement, Novavax’s stock rose by 2.2% in extended trading, building on an 8.6% increase at market close. Peter Marks, director of the FDA’s Center for Biologics Evaluation and Research, stated, “Today’s authorization provides an additional COVID-19 vaccine option.”
The company confirmed that doses of the updated vaccine will be available as early as the end of next week. CEO John Jacobs highlighted that the vaccine targets the ‘parent strain’ of circulating variants and has shown cross-reactivity against JN.1 lineage viruses.
Earlier this month, the FDA approved updated COVID-19 vaccines from Pfizer and Moderna, focusing on the KP.2 variant. While JN.1 was prevalent in the U.S. earlier this year, it now accounts for only 0.2% of cases, as per CDC data.
Novavax’s traditional protein-based vaccine offers an alternative technology to mRNA vaccines like Moderna’s Spikevax and Pfizer-BioNTech’s Comirnaty.
In the United States, COVID-19-related hospitalizations and deaths have risen in recent months, despite a sharp decline in vaccine demand since the peak of the pandemic. Novavax anticipates strong demand for its vaccine in the U.S., expecting better performance compared to last year.