Novavax slid nearly 20% in morning trading as the company was facing issues with the purity of its vaccine candidate.According to reports, Novavax has been unable to consistently prove it can manufacture a vaccine shot that meets the required quality standards.
The Food and Drug Administration discusses purity levels with each manufacturer, but each batch of the COVID-19 vaccine is supposed to be at least 90% pure.
Novavax has reportedly struggled to maintain purity levels that are close to the 90% threshold. The company recently showed purity levels around the 70% range, per reports.