Novavax (NASDAQ: NVAX) has had more than its share of ups and downs over the past few years -- and investors have been along for the ride. The stock soared 2,700% in 2020 as the company brought its coronavirus vaccine candidate through late-stage clinical trials. But when Novavax's program fell behind, the shares lost ground.

The biotech company's vaccine reached commercialization later than rivals. And this meant Novavax missed out on that first huge wave of demand.

The company isn't giving up, though. Today, Novavax is preparing itself for a post-pandemic world. Should you invest in this embattled player and bet on a better future? Here's one green flag and one red flag.

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Source Fool.com