Is Novavax Stock a Buy?
Novavax (NASDAQ: NVAX) has been dominating recent headlines. On July 7, the company announced that it had secured $1.6 billion from the White House's Operation Warp Speed program to fund late-stage clinical development of its coronavirus vaccine candidate, NVX-CoV2373. Shares rose nearly 32% that day.
Novavax is the latest company to receive funding from the Department of Health and Human Services through the Warp Speed program, including Johnson & Johnson (NYSE: JNJ) and Moderna (NASDAQ: MRNA). Novavax will utilize this funding for its upcoming phase 3 clinical study of NVX-CoV2373 and for augmenting its vaccine manufacturing capabilities. The company hopes to have 100 million doses on the market before the year is out.
With all the buzz surrounding Novavax at the moment, you might be wondering if now is the time to buy this stock and whether its the most promising coronavirus vaccine developer of the bunch. Let's take a closer look.
Source Fool.com
