Novavax (NVAX) seems to be a promising long-term investment
- Shares of Novavax have skyrocketed more than 400% in 2020.
- The reason for such high gains this year is the clinical success for experimental influenza vaccine NanoFlu.
- In March, the biotech reported overwhelmingly positive results for the vaccine in a late-stage study comparing it against Sanofi’s (SNY) approved flu vaccine FluZone Quadrivalent.
- Novavax announced in late February that it was evaluating multiple COVID-19 vaccine candidates to select the most promising one to advance to clinical testing.
- The company plans to be approved by the U.S. Food and Drug Administration (FDA) for NanoFlu based on its positive late-stage study results.
Novavax, Inc. is operates as a clinical-stage biotechnology company, which focuses on the discovery, development and commercialization of vaccines to prevent infectious diseases. It produces vaccine candidates to respond to both known and emerging disease threats by using the proprietary recombinant nanoparticle vaccine technology. The firm’s vaccine candidates include ResVax and NanoFlu. It also develops immune stimulating saponin-based adjuvants through its wholly owned Swedish subsidiary, Novavax AB. The company was founded in 1987 and is headquartered in Gaithersburg, MD.