What's the Upside for Novavax Stock?
After flying high in 2020, the feeling for investors in Novavax (NASDAQ: NVAX) is, once again, euphoria. Last week, the company reported good news in yet another phase 3 trial. And this is the big one -- its COVID-19 vaccine.
The biotech's coronavirus vaccine, NVX-CoV2373, achieved 89% efficacy rates in a U.K. trial. While not quite as high as the efficacy Pfizer or Moderna achieved, the results were arguably as exciting. That's because the U.K. was the center of a new strain of the coronavirus. To achieve 89% efficacy against the original strain and the mutation was an impressive feat. Novavax's vaccine was 95.6% effective against the original virus, and 85.6% effective against the U.K. mutation.
While Pfizer and Moderna both say that their vaccine works against the mutation, their claims haven't been backed up by clinical trials yet. So Novavax might end up with the more impressive label. What really has investors salivating is how many doses of vaccine Novavax will produce -- over 2 billion. And Novavax has signed distribution agreements with governments around the world. Let's do a back-of-the-napkin calculation and see if we can come up with a rough estimate of the revenue investors might expect once this vaccine hits the market.
Source Fool.com
