Novavax wins emergency FDA approval for updated Covid-19 vaccine

Novavax Inc.’s updated Covid-19 vaccine received emergency-use authorization from the Food and Drug Administration Friday, sending its shares up about 9% in late-day trading. The updated shot is authorized for people 12 and older and will target the JN.1 strain of the virus. The green light from the FDA will allow Gaithersburg-based Novavax (NASDAQ: NVAX), whose vaccine is protein-based, to compete with Pfizer and Moderna’s mRNA shots heading into the fall.