BUZZ-Invivyd falls after US FDA declines to expand emergency use of COVID-19 drug

Shares of drugmaker Invivyd IVVD.O fall 37.2% to $1.11 premarket

Co says the U.S. FDA has declined to expand the emergency use authorization of its COVID-19 prevention drug

The expansion was to include those whose immunity is impaired by certain conditions such as cancer and organ transplant, and for whom alternative options are not accessible or appropriate

The drug Pemgarda is already authorized for emergency use in those with compromised immunity due to a medical condition or receiving medicines that suppress the immune system, and unlikely to have an adequate response to vaccination

IVVD fell 88.8% in 2024