"After Adcomm’s Vaccine Recommendation, Can Novavax Make a Covid Comeback?"

Novavax could make a comeback as the FDA's Vaccines and Related Biological Products Advisory Committee unanimously recommends updating COVID-19 shots to cover the latest XBB Omicron subvariant, particularly subvariant XBB.1.5 which accounts for over 65% of all new COVID-19 cases in the US. The committee also recommended a monovalent shot specifically targeting Omicron and its subvariants. Novavax has been developing an updated version of its protein-based coronavirus shot in cooperation with global regulators and hopes to offer an alternative vaccine choice for individuals worldwide.

Novavax's Nuvaxovid coronavirus vaccine faced safety concerns such as myocarditis and severe allergic reactions, along with manufacturing difficulties that slowed down its Phase III trial and delayed launch. Despite receiving emergency use authorization from the FDA in July 2022, Novavax fell behind competitors Pfizer/BioNTech and Moderna in the race for market share. In its full-year 2022 financial report, Novavax told investors it might not be able to keep operations going beyond February 2024 but provided a more positive outlook in its first-quarter 2023 report.