Since 2021, shares of (NASDAQ: NVAX) have absolutely crumbled, falling by a whopping 95%. Even with the price rally in recent days, the stock has still been a disastrous investment over the past few years. The price drop was justified largely because the company's fate was uncertain. There were question marks relating to its growth and a canceled purchase agreement.

The good news is that one of those issues recently reached a positive resolution. Is that enough to make this beaten-down stock worth taking a chance on?

One of the clouds hanging over Novavax was a dispute with a global vaccine organization called Gavi, the Vaccine Alliance. The issue goes back to 2022 when Novavax terminated a purchase agreement with Gavi after it didn't procure the doses it had previously agreed to buy. Gavi paid $700 million in advance, which it ended up wanting a refund for as the shots weren't needed anymore. But Novavax said the payments were nonrefundable.

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Source Fool.com