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

The Food and Drug Administration authorized Novavax Inc.’s 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. and BioNTech SE , 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 has dropped 11.8%.

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