Why Novavax Stock Is Soaring Today

Shares of the clinical-stage biotech Novavax (NASDAQ: NVAX) are up by 10.65% as of 10:34 a.m. EDT today. The biotech's shares have now rallied by an astounding 80.7% this week. The spark?

Novavax's shares have been bolting higher of late in response to a newly released clinical update for the company's experimental respiratory syncytial virus (RSV) vaccine known as ResVax. Specifically, the company reported that a new analysis revealed that infants immunized while still in the womb with ResVax exhibited a 56.9% reduction in the incidence rate of pneumonia over the first year of life. The analysis in question was presented at the 2019 IDSOG Annual Meeting held in Big Sky, Montana.

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Source Fool.com