Novavax Inc. (NASDAQ: NVAX) is a biotechnology company headquartered in Maryland that develops vaccines.
The company works in the clinical stage of development with a focus on delivering novel products that prevent a broad range of diseases.
Novavax works together with its wholly owned Swedish subsidiary to produce vaccine candidates to respond to both known and emerging disease threats.
The company develops product candidates geared toward all age demographics of the general population and believes its vaccine technology has the potential to be applied broadly to a wide variety of human infectious diseases.
Since the start of 2020, no stock has performed better than NVAX. It’s up an astounding 3,322% – from $4.50 on Jan. 2nd, to $154 today.
If you’re worried you missed the rally, don’t. NVAX stock is just heating up…
Novavax has some very promising COVID-19 solutions in the pipeline that could help shares jump an additional 5x from here.
While that might sound ambitious, keep in mind the total business is only worth $8.9 billion.
So, there’s certainly a lot of room to grow. A $45 billion valuation isn’t outrageous if the company is able to develop a working coronavirus vaccine.
In early May, Novavax was awarded $388 million in funding from the Coalition for Epidemic Preparedness Innovations (CEPI) foundation.
And by the end of the month, the company initiated Phase 1/2 of its clinical COVID-19 vaccine trial.
Early results have been promising thus far – which is the main reason why the stock is up more than any other so far this year.
Scientists as Novavax identified its NVX-CoV2373 as its lead SARS-CoV-2 candidate following pre-clinical testing that demonstrated high immunogenicity and high levels of neutralizing antibodies.
These results provide strong evidence that the vaccine candidate will be highly immunogenic (able to produce an immune response) in humans, potentially leading to protection from COVID-19 and thus helping to control the spread of the disease.
The results also led the U.S. government to give Novavax $1.6 billion in funding earlier this month – the biggest contribution yet from the “Operation Warp Speed” program.
The funds will help Novavax begin a final-stage study of its vaccine candidate as early as this fall, with as many as 30,000 subjects.
I’ll keep you posted with the outcome of that trial.
In the meantime, here’s another penny stock that you may be interested in…
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