On Tuesday, Novavax (NVAX.O) announced that the World Health Organization (WHO) has authorized the emergency use of its updated COVID-19 vaccine for individuals aged 12 and older.
This updated vaccine, which received approval in the U.S. last month, specifically targets a variant stemming from the XBB lineage of the coronavirus, which was globally prevalent earlier this year.
The emergency use listing from the WHO is instrumental in expediting regulatory approvals for the import and administration of these vaccines by member states.
Novavax faced challenges during the peak of the pandemic, causing delays in regulatory approval filing and missing out on the widespread success experienced by mRNA vaccine rivals.
While Novavax’s original COVID shot received U.S. authorization in July 2022, its approval came later than those of Pfizer (PFE.N) and Moderna (MRNA.O).
It’s noteworthy that Novavax’s updated shot employs a more conventional protein-based technology compared to the mRNA-based vaccines from Pfizer and Moderna.
In response to this development, shares of Novavax, based in Maryland, showed a 1.8% increase to $5.6 in premarket trading.
