MarsBars/E+ via Getty Images
After a modest gain in the previous session following the FDA authorization of the company’s updated COVID shot, Novavax (NASDAQ:NVAX) shares are back in the red on Wednesday, hovering near a 52-week low.
The Gaithersburg, Maryland-based biotech already lags behind its larger rivals, Pfizer (PFE)/ BioNTech (BNTX) and Moderna (BNTX), in the fall immunization drive targeted at Omicron XBB.1.5 variant.
The messenger-RNA-based vaccine developers won FDA authorizations to market their XBB.1.5-adjusted shots for people aged six months or older last month.
While Novavax (NVAX) brings a new vaccine option with its protein-based shot, its use will be limited to those aged 12 years and above.
The company said that NVX-CoV2601, adjusted for the 2023–24 formula, will be available at $130 per dose. Pfizer (PFE) and Moderna (MRNA) previously announced plans to charge $120 and $129 per dose for their vaccines, respectively.
However, even as COVID vaccinations move to a commercial market after government-led purchases during the pandemic, many will be able to get them with no out-of-pocket expenses thanks to healthcare plans.
After the FDA authorization, Novavax (NVAX) said its vaccine will be available across thousands of locations, including pharmacy chains CVS Pharmacy (CVS) and Rite Aid (RAD), in the coming days.
