Novavax COVID-19 vaccine authorized for U.S. teens

The Food and Drug Administration authorized Novavax Inc.’s
NVAX,
-2.58%
COVID-19 vaccine for use in U.S. teenagers on Friday. Novavax’s recombinant protein-based vaccine uses different technology than the mRNA shots developed by Moderna Inc.
MRNA,
-2.60%
and BioNTech SE
BNTX,
+0.21%,
and received an emergency-use authorization by the FDA for adults in July. The vaccine still requires a policy recommendation for use by the Centers for Disease Control, which followed the FDA by about a week when authorizing the Novavax shot for adults. Novavax shares ticked 0.6% higher in late trading Friday, after the announcement; the stock has declined nearly 75% so far this year, as the S&P 500 index
SPX,
-1.29%
has dropped 11.8%.