Novavax (NVAX) Shares Plunge 20% as FDA Halts Phase 3 COVID-Flu Vaccine Trials Over Motor Neuropathy

Oct 16, 2024, 02:17 PM

Novavax (NASDAQ: NVAX) announced that the U.S. Food and Drug Administration (FDA) has placed a clinical hold on its Investigational New Drug (IND) applications for both its COVID-19-influenza combination vaccine and its stand-alone influenza vaccine candidates in Phase 3 trials. The hold is due to safety concerns following a spontaneous report of a serious adverse event (SAE) of motor neuropathy in a trial participant. Following the news on Wednesday, shares of Novavax plunged by up to 20%, with the stock dropping as much as 18.7% during trading.