Novavax Inc.’s stock tumbled 16% early Wednesday after the company said the FDA has placed a clinical hold on its COVID-19-and-flu combination and stand-alone flu vaccine candidates, following a case of motor neuropathy in a participant in a mid-stage trial.

Novavax said federal regulators put a clinical hold on its application for a combination Covid-19 and influenza vaccine and standalone flu inoculation, sending shares down sharply.

Shares of US protein-based vaccine maker Novavax closed down 19.4% at $10.15 yesterday having dropped as much as 24%, on the news of a setback for its investigational application for a covid vaccine.