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Is Novavax Stock in Trouble?

TheMotleyFool

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Is Novavax Stock in Trouble?Photo, wide shot, wide-angle lens, Clinical research organization, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by David Maisel: https://img.theapi.app/temp/0e9d087d-988e-4397-b7cf-6049e2776769.png

In January, biotech company Novavax (NASDAQ: NVAX) finally completed its application for an emergency use authorization (EUA) for its coronavirus vaccine, NVX-CoV2373, in the U.S. The much-anticipated application came after the company ran into delays that pushed back its timeline to submit the EUA in the country.

However, Novavax has yet to earn the nod in the U.S., and what's more, the company's shares continue to struggle. The biotech's stock is currently trading near its 52-week low. Should investors give up on Novavax?