Shares of Novavax Inc. rose 15% in early trading Friday after a Food and Drug Administration advisory committee said it would meet in June to review the company's experimental Covid-19 vaccine.
After ticking up during premarket trading to open at $45.95, the shares were trading at $51 by 10:32 a.m. ET.
The biotechnology company's protein-based vaccine has been authorized in the U.K. and Europe but is still under the FDA's microscope. Earlier this month, an agency official called the review process for Novavax's clinical-trial data and manufacturing data "incredibly complex."
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