Biotech company Novavax (NASDAQ: NVAX) has had a terrible year on the stock market, with its shares down by 86% year to date. But zooming out helps: Novavax's shares are up by an impressive 302% over the past three years. The company does still face some challenges. The coronavirus vaccine market, where it plans to make its money for the next few years, could shrink substantially starting next year.

Novavax's shareholders could continue to take it on the chin for the next few months, but what do the company's long-term prospects look like? Is it still worth purchasing shares of this vaccine maker?

NVAX data by YCharts.

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Source Fool.com