The Food and Drug Administration (FDA) has granted emergency use authorization for Novavax’s updated protein-based COVID-19 vaccine for individuals aged 12 and older. This approval allows Novavax to compete with the mRNA vaccines from Pfizer and Moderna during the upcoming fall and winter seasons.
The Novavax vaccine specifically targets the omicron subvariant JN.1, which, although once prevalent, now represents a small fraction of circulating cases in the U.S.
Novavax’s vaccine technology, based on protein-based vaccines, is less adaptable to rapid updates for new strains compared to mRNA vaccines. Despite this, Novavax claims that its vaccine offers protection against several JN.1 descendant variants currently dominant in the U.S., such as KP.2.3, KP.3, KP.3.1.1, and LB.1. The company emphasizes the broad cross-reactivity of its vaccine against these related viruses.
The Novavax vaccine is expected to be widely available across the U.S., including in retail and independent pharmacies, as well as regional grocery stores. The announcement of FDA authorization had a positive impact on Novavax’s stock, which saw an increase of over 8% following the news.
This FDA decision follows the approval of new mRNA vaccines from Pfizer and Moderna just a week prior, which target a different JN.1 offshoot, KP.2. Last year, Novavax was authorized almost a month after its competitors, placing it at a disadvantage.
However, the Novavax vaccine offers a crucial alternative for individuals hesitant to receive mRNA vaccines, utilizing a well-established protein-based technology used in other routine vaccines.
Despite the availability of new vaccines, it remains uncertain how many people will opt to receive a COVID-19 shot this season. Data from the CDC shows that only 22.5% of U.S. adults received the last round of COVID-19 vaccines, suggesting potential challenges in uptake for the upcoming vaccination campaign.
