Why Novavax Stock Is Jumping Again Today
Shares of Novavax (NASDAQ: NVAX) were jumping 5.8% at 11:46 a.m. EDT on Wednesday. This marked the second consecutive day of solid gains for the biotech for the same reason: anticipation that problems related to Johnson & Johnson's (NYSE: JNJ) COVID-19 vaccine could bode well for Novavax's prospects. Novavax also announced some management changes after the market closed on Tuesday.
Novavax has already committed to supplying 100 million doses of COVID-19 vaccine NVX-CoV2373 to the U.S. The biotech also has supply deals in place with other countries for around 200 million doses. It's possible that Novavax could receive more orders if governments are concerned about the safety of J&J's vaccine.
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Source Fool.com
