Novavax Inc. jumped in early trading after US regulators fully approved its Covid vaccine, easing investors’ concerns after the clearance was delayed and US Health and Human Services Secretary Robert F.

Novavax shares surged more than 17% before the bell on Monday, following the long-delayed approval of its COVID-19 vaccine from the U.S. health regulator, albeit with new conditions.

Nuvaxovid had been available under emergency use authorization but the full approval may allow it to better compete with rival vaccine makers.