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FDA considers updating COVID boosters, Novavax stock reacts

The US Food and Drug Administration (FDA) is set to vote on recommendations for updated COVID-19 booster shots as the KP.2 variant strain begins to spread across the US. Yahoo Finance Health Reporter Anjalee Khemlani joins Market Domination to discuss the impact this is having on vaccine makers, particularly Novavax (NVAX), whose stock has shot up in Monday's session.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Luke Carberry Mogan.

Video transcript

Next up.

Novavax shares soaring today, the Food and Drug Administration, announcing it would vote whether to recommend a new COVID-19 booster here with more.

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As Yahoo finds the senior reporter Angelique can.

That's right, and, of course, Nova.

We know one of the companies that gains to looks to gain the most from this move from the FDA.

If they do decide to propose the J and one variant as the strain that company should focus on, that includes, of course, players.

And we know that those two will obviously also be out with their vaccines.

And this is setting up to be not so much the strain that we need to focus on here in the US.

KP two is now overtaking J and one and we are still keeping track of these strains, and they are all Ron sub variant.

So that is the one benefit is that no matter what strain gets chosen by the FDA, they are all going to be able to offer some level of protection.

Barring any prize, we know that that is the ongoing story for the covid disease that, you know it has been evolving, continues to evolve and impact mildly.

Most people who are protected So what the fall roll out will look like, and what the demand will look like still remains to be seen.

But Novavax is up because it will be able to play in this fall season.

And as you said, Novavax is looking to capitalise the most because it has the most to gain because it's coming from.

I mean, in other words, most of the other players are big companies, like lots of other products, not Nova Well and Moderna also and and not so much with the other.

It's still working on its other products.

So, um, it did also get its RSD vaccine out now.

So it has two products, but yeah, Novavax, still the one that has just a single product on the market, and that is this one right now, so it does stand to gain the most.

I also actually spoke to someone about whether or not this really matters.

What?

What does the fall booster campaign really do for us?

And he basically told me that, you know, if we're looking at boosting for the broader American population, we're all pretty solid right now.

It doesn't quite matter.

It's for those who are immune, deficient in some way or need that support through what is known as memory cells.

They, they, their bodies cannot produce that protection that's needed.

And so up until a random variant comes out that we have not seen before, we're all pretty good.