Is Novavax's Growth Story Over?

Most investors would be thrilled with a stock that doubles or triples in value over a 12-month period. A 500% return in a year would be a dream come true. But what if you owned a stock that soars by 2700% in a year? That's what happened to clinical-stage biotech Novavax (NASDAQ: NVAX) last year. That's because, in early 2020, the company joined the ranks of those hunting for vaccines or treatments for COVID-19.

Investors responded by bidding up its shares at an almost alarming rate. However, it is worth noting that Novavax has yet to launch its candidate, NVX-CoV2373, on the market, while companies such as Moderna and Pfizer have already done so. Considering its recent run on the market was largely thanks to its efforts to develop a coronavirus vaccine, can Novavax maintain the momentum it gained last year?