Novavax shares tumbled after the Food and Drug Administration put a clinical hold on its testing applications for a combined Covid-flu vaccine and standalone flu inoculation due to safety concerns. Fi

The U.S. Food and Drug Administration has put Novavax's trial of an experimental COVID-flu vaccine combination on hold after one person who received the shot reported nerve damage, the company said on Wednesday.

Novavax Inc.’s stock tumbled 19% early Wednesday after the company said the Food and Drug Administration has placed a clinical hold on its COVID-19-and-flu combination and stand-alone flu vaccine candidates,

Shares mostly advanced in Asia on Thursday after U.S. stocks rose following better-than-expected profit reports from Morgan Stanley, United Airlines and other big companies. Chinese markets fell back after officials in Beijing announced the government was expanding financing for housing projects to try to turn around a slump in the property market triggered by a crackdown on excessive borrowing by developers.

Markets were mostly lower in Asia on Wednesday after U.S. stocks pulled back from their records, dented by selling of technology and energy sector shares. Tokyo’s Nikkei 225 index fell 1.8% to 39,210.