Group 1 - Novavax's COVID-19 vaccine, Nuvaxovid, received full approval from the FDA, leading to a nearly 26% surge in its stock price during pre-market trading [1] - The FDA approved Nuvaxovid for individuals aged 65 and above but restricted its use for those aged 12-64 with underlying health conditions [2] - The approval is based on data from a pivotal late-stage study demonstrating the vaccine's safety and effectiveness [3] Group 2 - Nuvaxovid is now the only non-mRNA-based COVID-19 vaccine available in the U.S., providing an alternative to mRNA vaccines from Moderna and Pfizer [6] - Sanofi acquired exclusive global marketing rights for Nuvaxovid, triggering a $175 million milestone payment upon full approval, along with ongoing tiered royalties on future sales [7] - Novavax faced delays in vaccine approval and launch, impacting its sales during the previous vaccination season, but aims to participate early in the upcoming season [9]

Core Insights - Novavax Inc's stock price surged by 26% to $8.48 following FDA approval of its COVID-19 vaccine, Nuvaxovid, which is protein-based and targets individuals aged 12 to 64 with underlying health conditions [1] Stock Performance - If the gains are sustained, this will be Novavax's highest single-day percentage increase since May, surpassing long-term resistance levels and trading at its highest since March, moving away from the 52-week low of $5.01 recorded on April 10 [2] Options Activity - The options market has seen a significant increase in activity, with NVAX experiencing four times its usual options volume, including 57,000 calls and 13,000 puts. The most active option is the weekly 5/23 9-strike call [4] - Short interest accounts for 28.6% of the stock's available float, indicating that part of the stock's rise may be due to short covering, with an estimated seven days required for shorts to cover their positions at the current trading pace [4]