Novavax (NVAX) shares were down sharply Thursday after US Health and Human Services Secretary Robert Kennedy Jr., raised doubts about the effectiveness of the company's Covid-19 vaccine.
Novavax's Nuvaxovid Covid-19 vaccine is currently available under conditional approval and is awaiting full approval from the US Food and Drug Administration, which was expected by April 1, Bloomberg reported.
In a CBS News interview on Wednesday, Kennedy attributed the delay to the vaccine's single-antigen composition, saying such vaccines have "never worked" for respiratory diseases.
"We are actually shifting our priorities to multiple antigen vaccines. And [National Institutes of Health] is already working on a number of those," Kennedy said.
Shares of other Covid-19 vaccine manufacturers including Moderna (MRNA), BioNTech (BNTX), Inovio Pharmaceuticals (INO) and Pfizer (PFE) were also falling after Kennedy's comments.
Novavax didn't immediately respond to a request for comment from MT Newswires.
Price: 5.19, Change: -1.56, Percent Change: -23.05
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