Vaccine stocks gaining attention as the new COVID variants spreading fast


Vaccine stocks regained momentum nowadays after the new variants of covid EG.5.1, known as "Eris" and XBB.1.16.6 are emerging in the U.S. As per the latest report, Covid hospitalizations have surged around 22% over the last week in the U.S. Meantime, a new coronavirus variant has been detected in the UK, the new variant of COVID-19 BA.2.86 nicknamed Pirola.

The World Health Organization has classified Eris as a “variant of interest,” signaling ongoing monitoring for potentially severe mutations. The WHO further warns that it "may cause an increase in the incidence of cases and become dominant in some countries or even globally."

“I don't think people need to be concerned, even though everyone knows someone who has had COVID within the last month," he added, saying infections have been mild and symptoms with runny nose and sore throat” - Infectious disease expert Dr Christopher Ohl for Atrium Health said.

Novavax (NASDAQ: NVAX) stock leading the pharma sector, the stock jumped more than 30% after the company announced Tuesday that its XBB COVID vaccine is effective against the Eris variant. The company is in the process of applying to regulatory authorities around the world for its XBB.1.5 Covid vaccine candidate.

"Our data has shown that Novavax's protein-based COVID-19 vaccine induces broadly neutralising responses against XBB subvariants, including EG.5.1 and XBB.1.16.6.” - Filip Dubovsky, president of research and development at Novavax said.

Other vaccine stocks including Pfizer, Moderna and BioNTech also registered solid gains in the last couple of days. Moderna (NASDAQ: MRNA) stock jumped more than 22% in the last 5 days. Both Moderna and Pfizer recently announced that their respective updated vaccines are showing responsiveness against the emerging EG.5 omicron subvariant.

“These new results, which show that our updated COVID-19 vaccine generates a robust immune response against the rapidly spreading EG.5 and FL.1.5.1 strains, reflects our updated vaccine’s ability to address emerging COVID-19 threats,” Moderna, President Stephen Hoge said.
Read more -