Investing.com – Novavax stock (NASDAQ:) was looking to extend its previous session’s gains Tuesday after its Covid-19 vaccine secured its first approval for emergency use in any country.

The stock climbed more than 5% in premarket trading after closing almost 16% higher Monday on the news that Indonesia had allowed Novavax’s NVX-CoV2373 for emergency use.

Stanley Erck, CEO of the company, stated to Reuters that it expected regulators from India and the Philippines to approve the application within weeks.

The development is a big boost to Novavax’s plans, which have been held back by manufacturing challenges. These problems delayed approvals in Europe and the U.S. of the vaccine, putting it behind rivals such as Pfizer (NYSE:)-BioNTech Moderna (NASDAQ) They have delivered millions of doses.

Novavax stock lost more than half its value over the past two months due to these problems. Novavax has now recovered around one third of these losses.

Novavax said that it has solved all manufacturing problems and doesn’t expect regulators have further questions about the production process.

India’s Serum Institute will make the vaccine and market it in Indonesia under the brand name Covovax.

Novavax released a separate statement stating that the company has submitted for approval to Canada’s regulator for the vaccine and had received final review from the European Medicines Agency. Erck said that Novavax expects to submit a complete submission to U.S. Food and Drug Administration for approval in the next few weeks.