Could Novavax Be a Millionaire-Maker Stock?
After posting eye-popping growth of 3,560% so far this year, it's safe to say that Novavax (NASDAQ: NVAX) has already made a handful of millionaires. On the other hand, it's unlikely that the business -- which describes itself as a "late-stage biotechnology company" -- can replicate the same feat over the next few years without posting massive revenues from new product sales. Investors seeking riches are doubtlessly thinking that Novavax's coronavirus vaccine candidate could drive tremendous growth.
However, there is no guarantee that NVX-CoV2373 will make it through the remainder of its clinical trials rapidly enough to capture a significant share of the market, especially given that many other companies are working on similar projects. Plus, the stock's current value may already reflect the market's expectation that the vaccine project will succeed. If the endeavor fails, it'd lead to massive losses. Therefore, I think it's more prudent to estimate Novavax's future revenues based on its most advanced program from before the pandemic -- the NanoFlu seasonal influenza vaccine for older adults.
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Source Fool.com
