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October 16, 20242:19 PM EDTUpdated 6 hours ago
Oct 16 (Reuters) - The U.S. Food and Drug Administration has put on hold a trial of Novavax's (NVAX.O), opens new tabCOVID-influenza and its standalone flu vaccines after a participant who took the combination shot reported nerve damage, the company said on Wednesday.
Its shares plunged as much as 24%, and if losses hold, it would wipe off nearly $400 million from the vaccine maker's market capitalization.
The stock drop also reflect concerns on whether the hold would impact Novavax's partnership with French drugmaker Sanofi (SASY.PA), opens new tab, according to one analyst.
continued: https://www.reuters.com/business/hea...ld-2024-10-16/
Oct 16 (Reuters) - The U.S. Food and Drug Administration has put on hold a trial of Novavax's (NVAX.O), opens new tabCOVID-influenza and its standalone flu vaccines after a participant who took the combination shot reported nerve damage, the company said on Wednesday.
Its shares plunged as much as 24%, and if losses hold, it would wipe off nearly $400 million from the vaccine maker's market capitalization.
The stock drop also reflect concerns on whether the hold would impact Novavax's partnership with French drugmaker Sanofi (SASY.PA), opens new tab, according to one analyst.
continued: https://www.reuters.com/business/hea...ld-2024-10-16/