Why Novavax Shares Rose 110% in February

Shares of Novavax (NASDAQ: NVAX) rose 110% in February, according to data provided by S&P Global Market Intelligence, as investors bet on companies that may develop a coronavirus vaccine to address the current global outbreak.

As the outbreak deepened, with COVID-19 coronavirus cases topping 93,000 worldwide, investors flocked to shares of companies working on -- or with technology to work on -- treatment and prevention. Novavax announced details of its program on Feb. 26, saying it is now examining several nanoparticle vaccine candidates in animal studies. Once the company chooses the best candidate, it aims to begin testing in humans by the end of spring.

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Source Fool.com