Why Novavax Stock Is Jumping Today

The stock of Novavax (NASDAQ: NVAX), a small-cap vaccine developer, is on the move today. The biotech's shares are up by 12.9% on heavy volume as of 9:55 a.m. EDT Wednesday morning.

The spark? Novavax's shares are jumping in response to the company's latest update on its coronavirus vaccine program. Ahead of the opening bell, the company announced that it has selected a candidate, dubbed NVX-CoV2373, for clinical trials. A phase 1 trial is expected to get underway by mid-May, with preliminary data slated for this July. 

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Source Fool.com