Is It Too Late to Buy Novavax’s Stock?
They say hindsight is 20/20, and in hindsight, buying shares of Novavax (NASDAQ: NVAX) at the beginning of the year would have been a great move. After all, the company's stock is now up by more than 2,500% year to date. Still, it may not be too late to buy shares of Novavax, as there are good reasons to believe this biotech stock can keep climbing. Here's one such reason to consider: The U.S. government recently awarded $1.6 billion in funding to Novavax as part of Operation Warp Speed. Novavax's shares jumped by more than 30% on this news. But could this lead to even more substantial gains for the company?
The goal of Operation Warp Speed is to accelerate the development and manufacture of vaccines and therapies for COVID-19. The aim is to have these products available for use by January 2021. The U.S. government initially selected 14 out of the more than 100 coronavirus vaccine candidates as part of this program, deeming these the most likely candidates to go on to earn regulatory approval. Novavax's potential vaccine, NVX-CoV2373, is one of them.
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Source Fool.com