BofA notes that Novavax (NVAX) shares are up 21% after announcing the company has received communication from the FDA for a post marketing commitment to generate additional clinical data for Nuvaxovid. Novavax highlighted that they believe their BLA for Nuvaxovid is approvable based on their conversations with the FDA to date and this additional data would be generated after BLA approval, notes the analyst, who sees this “assuaging some concerns” about the BLA approval and potential for COVID-related milestones and development after the recent delay and comments from Robert Kennedy Jr. Though this news does provide some relief amid the uncertainty of the Nuvaxovid approval process, the firm awaits further clarity on the commercial setup and reiterates a Neutral rating and $10 price target on Novavax shares.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NVAX:
- Unusually active option classes on open April 23rd
- Novavax’s Biologics License Application Nears Approval
- Novavax says received formal PMC request from FDA related to COVID vaccine
- Promising Results from Novavax’s SHIELD-Utah Study Boost Buy Rating Amid Vaccine Market Dynamics
- Novavax’s COVID-19 vaccine shows lower side effects vs. Pfizer-BioNTech’s