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Novavax stock drops after it delays emergency use submission to FDA of COVID-19 vaccine

·2 min read
Novavax stock drops after it delays emergency use submission to FDA of COVID-19 vaccine
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Novavax Inc. shares tumbled 11% in premarket trade Friday, after the biotech delayed its submission to the U.S. regulator for an emergency use authorization for its COVID-19 vaccine candidate. The company said it’s now planning to seek an EUA from the Food and Drug Administration in the fourth quarter. Novavax said it has filed with regulators in India, Indonesia, and the Philippines to have an emergency use authorization for the candidate, called NVX-CoV2373.