Five years ago, Novavax (NASDAQ: NVAX) was a little-known clinical-stage biotech whose leading pipeline candidate was an influenza vaccine. Then came the pandemic. The company quickly grew in prominence, largely thanks to its work in the coronavirus vaccine market, where it was reasonably successful -- or at least, more so than most other small biotechs that tried to make a name for themselves. Over the past five years, Novavax has delivered strong stock market performance.

However, a lot has changed. The pandemic is receding, Novavax's financial results haven't been impressive, and the biotech has significantly lagged the market lately, even with a strong run since the current year started. How will things develop over the next half-decade?

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Source Fool.com