“The Food and Drug Administration’s vaccines advisory panel backed Novavax NVAX +5.41% ’s long-delayed Covid-19 vaccine, saying the benefits outweighed the risks.

“The stock was rising 17% to $55.60 in premarket trading Wednesday.

“The panel voted Tuesday 21 to zero in favor of the proposition that the vaccine’s benefits outweighed its risks, with one abstention.

“The panel, however, expressed disappointment that more data wasn’t available on the vaccine’s efficacy against more recent variants of the virus.

“It’s now up to the FDA to decide whether to authorize the vaccine on an emergency basis.”

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