Novavax shares plunge after COVID-19 vaccine maker raises doubts over its future
The vaccine was also endorsed by UK regulators last year. The Department of Health and Social Care did not immediately respond to a Reuters query on how many doses have been deployed so far.
Novavax, like other COVID vaccine makers, is also gearing up for changes to the way the vaccines are rolled out, with global regulators expecting vaccination campaigns to be conducted once a year, similar to flu inoculations.Companies will need to change their vaccine each year to match circulating strains. Novavax faces near-term risks as protein-based vaccines take longer to produce than mRNA-based competitors, Novavax CEO John Jacobs has said.
The challenges ahead of Novavax are unsurprising given the very late entry of its COVID-19 vaccine as countries transition to a post-pandemic environment, said Lee Brown, global sector lead for healthcare at research firm Third Bridge. “While there is the potential for a substantial booster market … we don’t expect Novavax to be a major player in the booster opportunity.”
As of last close, Novavax’s U.S.-listed shares were down 97 per cent from their February 2021 record high of US$331.68.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canada-U.S. border a growing national security concern, Republican lawmakers argue - National | Globalnews.caThe new 28-member U.S. Northern Border Security Caucus is focused exclusively on what it calls a badly under-resourced, largely unnoticed national security concern.
Read more »
China dismisses FBI comments on COVID-19 lab leak theory - National | Globalnews.caFor the second day in a row, China on Wednesday dismissed U.S. suggestions that the COVID-19 pandemic may have been triggered by a virus that leaked from a Chinese laboratory.
Read more »
Canada-U.S. border policy, security new target of Republican lawmakers - National | Globalnews.caA group of U.S. lawmakers is launching the 'Northern Border Security Caucus,' focused on immigration, crime and national security at the Canada-U.S. border.
Read more »
TikTok banned on all Canadian government devices over ‘unacceptable’ risk - National | Globalnews.caEffective Tuesday, TikTok 'will be removed from government-issued mobile devices' due to a 'unacceptable level of risk to privacy and security,' Fortier said in a statement.
Read more »
New Meta-funded tool helps teens remove explicit images online - National | Globalnews.caA new tool helps teens remove explicit images and videos of themselves from the internet, including from participating platforms Instagram, OnlyFans and Pornhub.
Read more »
Daylight saving time 2023: Here’s when you should set your clocks forward - National | Globalnews.caDaylight saving time is coming soon, so consider this a sign to mark it in your calendars.
Read more »