Is Novavax Stock Too Risky to Buy Today?

Clinical-stage biotech company Novavax (NASDAQ: NVAX) has been one of the hottest stocks on the markets this year, going from just $4 per share at the start of 2020 to $110 today -- and that's after a price decline in recent weeks.

There's a lot of excitement surrounding Novavax and its COVID-19 vaccine efforts, but with a valuation that's skyrocketed so much in a short period, it may be too risky a buy for most investors. Let's take a closer look at the company's business, what it would look like without a vaccine, and whether it's still a good buy today.

The main reason Novavax shares are doing so well this year is thanks to the hype surrounding the company's coronavirus vaccine candidate, NVX-CoV2373. On Sept. 24, the company announced that it would be starting phase 3 trials and that it would look to enroll up to 10,000 people in the U.K.-based study.

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Source Fool.com