Novavax (NASDAQ: NVAX) stock has both soared and plummeted at times in recent years. Investors initially bet on the biotech company to be a winner in the coronavirus vaccine race, sending the stock to a 2,700% gain back in 2020. But when Novavax fell behind on the road to commercialization, the shares declined -- and even the eventual regulatory approval and market entry of that vaccine didn't much help.

In recent times, though, Novavax has taken steps to improve its profitability prospects. And in the wake of big news earlier this month, the shares surged again, giving investors hope that the company may be just at the beginning of a period of positive momentum. Is it time to buy? Before making any decisions, here are three things you need to know.

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Source Fool.com