Shares of Novavax fell 26.2% on Jul 14, after the European Medicines Agency's
EMA Pharmacovigilance Risk Assessment Committee ("PRAC") updated the product label of Nuvaxovid, the company's COVID-19 vaccine, to include some potential side effects like severe allergic reactions and skin problems.

Assessments are ongoing to determine whether the vaccine is responsible for causing heart inflammation diseases like myocarditis/pericarditis.