Novavax (NASDAQ:NVAX) hit session highs, up 15%, after President Joe Biden mentioned that the Novavax Covid vaccine could be another tool used to fight the pandemic.
“We have other vaccines like Novavax and others coming on, probably,” Biden said outside the White House earlier. “I think we’ll be in a position to be able to share vaccines as well as know-how with other countries who are in real need.”
Biden was responding to a question about India and the pandemic surge.
Earlier this month, Novavax started vaccine crossover in COVID-19 trials. In March, the U.K. trial showed that the vaccine was 96.4% effective against "mild, moderate, and severe disease caused by the original COVID-19 strain.