The Pfizer vaccine is approved for children 12 to 15 years of age

According to a report released late Monday, Pfizer is expected to receive approval from the Food and Drug Administration to use the vaccine in children ages 12 to 15. Federal officials told the New York Times that the approval could be made later this week.

The Pfizer vaccine is given in two doses three weeks apart and is approved for use in people 16 years of age and older. In April, Pfizer and Biontec applied to US and European authorities for approval to use the vaccine in people aged 12 to 15.

Shares of Fayez rose 3.1% to close at $ 39.83 on Monday, and Biontech shares in the United States closed 11% higher.