3 Green Flags for Novavax's Future
Tiny Novavax (NASDAQ: NVAX) has emerged as one of the strongest stocks in the first six months of 2020, running up an astounding 2,300%. Most of that surge has been due to excitement about NVX-CoV2373, the company's COVID-19 vaccine candidate. Here are three reasons why the market has been so bullish about Novavax in 2020.
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Back in May, the global nonprofit Coalition for Epidemic Preparedness Innovations invested $388 million in Novavax's vaccine candidate for COVID-19. Last week, the U.S. government agreed to pay the company $1.6 billion through Operation Warp Speed to help develop it. With almost $2 billion of free money in the bank, Novavax can now easily compete with all the big pharmaceutical players. And at a market cap of under $6 billion, it's trading at less than three times its cash.
Source Fool.com
