Is It Too Late to Buy Novavax Stock?
This month, the U.S. government awarded Novavax (NASDAQ: NVAX) more funding than any other company in the coronavirus vaccine race. In response, the shares surged by 32% in one trading session. Operation Warp Speed, the government's effort to help bring a vaccine to market by January, awarded the biotech company $1.6 billion. That's more than the $1.2 billion it offered to big-pharma rival AstraZeneca (NYSE: AZN) and the $483 million awarded to Moderna (NASDAQ: MRNA), the first company to bring a COVID-19 vaccine into human trials.
The move surprised the market, as Novavax wasn't on the government's list of five companies to potentially receive funding. (AstraZeneca and Moderna were.) Investors may wonder whether this new vote of confidence -- and other factors -- will lead to more share gains. Or is there little potential left in this biotech stock?
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Source Fool.com
