Why Novavax Stock Is Jumping Today
Shares of Novavax (NASDAQ: NVAX) were jumping 8.2% higher as of 12:16 p.m. EDT on Tuesday. Two factors were likely behind the solid gain. Novavax announced the formation of a leadership team to guide its influenza vaccine candidate NanoFlu through the regulatory licensing process and explore the potential for a combined influenza/COVID-19 vaccine. Also, Johnson & Johnson temporarily paused its late-stage clinical study evaluating COVID-19 vaccine candidate JNJ-78436735.
Novavax is one of only a handful of drugmakers with coronavirus vaccine candidates in late-stage testing. If J&J's COVID-19 vaccine is found to have safety problems, it could translate to a bigger market opportunity for Novavax's NVX-CoV2373. However, it's way too soon to think that J&J's pause will be anything but temporary.
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Source Fool.com
