Why Is Everybody Talking About Novavax Stock?
In 2020, Novavax (NASDAQ: NVAX) jumped from obscurity and took investors on the thrill ride of the year. Shares of this tiny biotech skyrocketed from $4 in January to $117 in December. That spells gains of nearly 3,000%.
What's driving this amazing run? First, the company received positive news from its phase 3 trial for its flu vaccine candidate, NanoFlu, back in March. Then, the Coalition for Epidemic Preparedness Innovations (CEPI) wrote Novavax a check for $388 million in order to help pay for the company's COVID-19 vaccine development. And then, Novavax received a $1.6 billion grant from Operation Warp Speed (OWS), propelling tiny it into the big leagues. Now investors are talking about Novavax's COVID-19 vaccine in the same breath as Pfizer and Moderna's. And the company and its shareholders are emerging as big winners in the stock market.
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Source Fool.com
