Early on in the pandemic, Moderna and Pfizer beat smaller rival (NASDAQ: NVAX) to market with their coronavirus vaccines by a year or more in some countries. This head start offered them the lion's share of the market and revenue, and Novavax couldn't catch up.

As we head into a new vaccination season, Moderna and Pfizer once again reached commercialization first with their updated coronavirus vaccines. But this time, Novavax is only a few weeks behind -- and may have a better chance of gaining market share. In fact, this could be Novavax's big opportunity to prove its value in the world of coronavirus prevention -- and a key step to recurring vaccine revenue. 

Moderna and Pfizer scored a nod from the U.S. Food and Drug Administration for their updated vaccines in early September, and just this week Novavax earned an OK from the agency. So Moderna and Pfizer were able to start vaccinating about three weeks ahead of the smaller biotech company.

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Source Fool.com