Novavax Shares Slump After FDA Hold on Covid-Flu Shot Candidates

(Updates to add latest trading and analyst commentary.)

Novavax shares drop as much as 24%, the most intraday since July, after the company said the US FDA has placed a clinical hold on its application for a Covid-flu combination and stand-alone flu vaccine candidates.

• The clinical hold is due to a spontaneous report of a serious adverse event of motor neuropathy in a single CIC Phase 2 trial participant outside of the US who received the vaccine in Jan. 2023
  • The trial completed in July 2023 and the participant reported the SAE in Sept. 2024
• Chief Medical Officer Robert Walker ...