Novavax Stock Could Easily Triple in Value
The clinical-stage vaccine company Novavax (NASDAQ: NVAX) has been one of the few bright spots in this dour market. The biotech's shares, in fact, have gained a stately 252.8% so far this year. Novavax's recent strength stems from the growing excitement over its COVID-19 vaccine program, as well as the strong showing of its flu vaccine, NanoFlu, in a late-stage trial for elderly patients. NanoFlu, in short, produced a favorable efficacy profile compared with Sanofi's Fluzone Quadrivalent in this treatment-resistant population, while sporting a fairly similar safety record compared with this Food and Drug Administration (FDA)-approved flu vaccine.
The particularly noteworthy aspect of Novavax's story is that the company's market cap still stands at a mere $722 million. The big deal is that a regulatory approval in either the flu or COVID-19 space should make the biotech's present valuation seem ridiculous in hindsight. Is this value story too good to be true, or is the market's cautious approach actually warranted? Let's dig deeper to find out.
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Source Fool.com
