Why Novavax shares are plummeting today

what happened

Share Novavax ((((NVAX -23.12%). It had plummeted 19.3% at 10:51 am ET on Friday. This decline occurred after the Food and Drug Administration (FDA) released a briefing document for the Advisory Board meeting scheduled for June 7.

So what

Many investors have primarily focused on the following statement in the FDA briefing document: “Multiple events of myocarditis / pericarditis have been reported in terms of time with NVX-CoV2373 administration. -CoV2373.”

The FDA said four of the five adverse events reported in the Novavax data occurred in young men. This demographic found that after receiving the messenger RNA (mRNA) COVID vaccine developed by, there is an increased risk of myocarditis (inflammation of the heart muscle). modern And partners Pfizer When BioNTech..

Authorities even state that “the risk of myocarditis after NVX-Cov2373 may be higher than that reported during post-approval use of the mRNA COVID-19 vaccine.” why? Pre-approval reviews of Moderna and Pfizer-BioNTech vaccines did not find any cases of this condition.

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However, there are cases where investors are overreacting to these comments. “The causal link between vaccination and these events cannot be concluded on the basis of available data,” the FDA said. Importantly, the agency also stated that NVX-CoV2373 is likely to provide protection against COVID-19 caused by the coronavirus omicron mutant.

So

Nuvavax’s sudden sellout today is only temporary.The Vaccine stock If the FDA Advisory Board makes a positive recommendation to NVX-CoV2373, it will probably surge next week. But we have to wait to see how myocarditis concerns affect the panel’s thinking.

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