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Why Novavax Stock Soared Today

TheMotleyFool

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Shares of Novavax (NASDAQ: NVAX) soared 17.8% on Wednesday. The big jump came after the company stated that it would soon announce data from a U.S. phase 3 study of COVID-19 vaccine NVX-CoV2373 and is on track to hit its production goals for the vaccine.

What does an impending announcement of late-stage results for NVX-CoV2373 really mean for the biotech stock? The sooner Novavax reports those results, the sooner it will be able to complete its submission to the Food and Drug Administration for Emergency Use Authorization (EUA) for its vaccine.

Image source: Getty Images.

Source Fool.com

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