Novavax’s COVID-19 vaccine is authorized in Canada

Shares of Novavax Inc.
NVAX,
+1.13%
gained 1.8% in trading on Thursday after the company said its COVID-19 vaccine has been authorized by Health Canada. Canada has already ordered 52 million doses of Novavax’s vaccine, and the contract includes the option to order an additional 24 million doses. The protein-based vaccine, which requires two doses, has received authorizations in several regions, including in the U.K. and Europe. It is currently under review in the U.S. Novavax’s stock has tumbled 67.9% over the past year, while the broader S&P 500
SPX,
-1.32%
is up 13.8%.