Where Will Novavax Be in 1 Year?
Novavax (NASDAQ: NVAX) has been one of the leaders in the hunt for a COVID-19 vaccine. As a result, the company's stock has been on fire recently. Novavax's shares are up by a whopping 855% year to date. With that said, long-term investors should focus on whether -- or how long -- Novavax can keep up this pace.
If the company manages to maintain its momentum for a few more months to a year (or longer), it might be worth seriously considering purchasing shares of Novavax today. With that in mind, let's look at what's really going on with the biotech company, and where it will likely be in 12 months from now.
For Novavax, few outcomes would be better than if it were to successfully launch a vaccine for COVID-19 on the market. As a reminder, the company was able to quickly develop several vaccine candidates because of its previous experience with other type of coronavirus. Novavax then identified a lead vaccine candidate, NVX-CoV2373, which the company claimed was able to produce neutralizing antibodies for the SARS-CoV-2 virus that causes COVID-19 in animal studies. Novavax plans to initiate a phase 1 clinical trial this month.
Source Fool.com
