By Senad Karaahmetovic

Shares of Novavax (NASDAQ:) are down greater than 13% in the present day after the U.S. Meals and Drug Administration (FDA) launched briefing paperwork regarding the firm’s COVID-19 vaccine.

The FDA’s workers stated in the present day that the corporate’s vaccine reduces the chance of mild-to-severe COVID-19 and that it was seemingly the shot might present some degree of safety in opposition to the Omicron variant.

“Based mostly on the efficacy estimate within the medical trial of this vaccine, it’s extra seemingly than not that the vaccine will present some significant degree of safety in opposition to COVID-19 as a result of Omicron, specifically in opposition to extra extreme illness,” FDA workers stated.

Novavax’s examine confirmed an efficacy charge of 90.4%.

Nonetheless, the Novavax inventory value was hit after the briefing paperwork flagged the attainable danger of myocarditis.

The FDA’s exterior advisers are assembly subsequent week to debate the vaccine’s authorization in adults.

Novavax inventory value is down over 65% YTD.