Novavax shares jump as FDA panel backs COVID vaccine

Shares of Novavax Inc surged nearly 20% on Wednesday after advisers to the Food and Drug Administration overwhelmingly backed the use of its COVID-19 vaccine, bringing the shot a step closer to a U.S. launch. The stock tumbled about 20% on Friday after the heath regulator's reviewers flagged concerns of a type of heart inflammation following the vaccination, adding uncertainty over the outcome of Tuesday's meeting.