By Yasin Ebrahim

Investing.com —  Novavax (NASDAQ:) surged Tuesday after the drug maker’s two-dose Covid-19 vaccine took a huge step toward regulatory authorization in the U.S.

Novavax shares temporarily stopped trading after the news but were already trading over 6% higher. 

The Food and Drug Administration panel voted 22 to 0 with one abstention that the Covid-19 vaccine’s benefits outweigh its risks, paving the way for the drug to be cleared as soon as this week.

Before the vaccine becomes publicly available, it will also need to be reviewed by the Centers for Disease Control and Prevention’s Advisory Committee on Immunization Practices.