FDA delay possible for Novavax's COVID shot
Novavax's share price tumbled on Thursday on news the vaccine maker's COVID shot might be delayed further by additional FDA reviews of its manufacturing process.
Why it matters: Novavax's shot is in line to become the fourth to be authorized in the U.S. after an FDA advisory committee concluded the benefits outweighed risks.
The FDA confirmed to CNBC this week it needs to review changes that Novavax disclosed on June 3 that it had made to its manufacturing process.
- The biotech said in a statement that it's shared updated information with regulators, per CNBC.
- The company's shares dropped about 17% yesterday, ending the day trading at $41.48.