Here's Why Novavax, Inc. Stock Popped Today
Shares of Novavax, Inc. (NASDAQ: NVAX), a clinical-stage biotech focused on novel vaccine development, jumped 24.6% higher as of 11:50 a.m. EDT on Tuesday. Investors are cheering in response to the company's announcement that it will hold a conference call next week to discuss recent progress with its RSV F vaccine.
The respiratory syncytial virus sends a staggering number of older adults and infants to hospitals each year, but a vaccine that effectively prevents infections has yet to emerge. Novavax came awfully close with a mid-stage study that just crossed the threshold for statistical significance, but the stock cratered last year when the RSV F vaccine couldn't repeat the success in a larger study.
Image source: Getty Images.
Source: Fool.com