FDA Authorizes Updated Novavax COVID-19 Vaccine for JN.1 Strain

The FDA has granted emergency use authorization for a new version of Novavax's COVID-19 vaccine targeting the JN.1 strain. The vaccine is approved for individuals aged 12 and older. Novavax's shares rose following the news, and doses are expected to be available by the end of next week.

The U.S. Food and Drug Administration (FDA) announced on Friday that it has granted emergency use authorization for an updated version of Novavax's COVID-19 vaccine, specifically targeting the JN.1 strain. The authorization is for individuals aged 12 and older.

Shares of Novavax climbed 2.2% in extended trading after an earlier 8.6% surge prompted by the news. Peter Marks, director of the FDA's Center for Biologics Evaluation and Research, said, "Today's authorization provides an additional COVID-19 vaccine option." Doses are expected to be available by the end of next week, the company confirmed.

Novavax CEO John Jacobs stated that the new vaccine targets the 'parent strain' of currently circulating variants and has demonstrated robust cross-reactivity against several JN.1 lineage viruses. Earlier this month, other updated COVID-19 vaccines by Pfizer and Moderna were approved, targeting the KP.2 variant. While JN.1 has declined in prevalence, newer variants like KP.3.1.1 are now dominant.

(With inputs from agencies.)