Why Shares of Novavax Are Up Monday
Shares of (NASDAQ: NVAX) were up more than 24% as of 12:08 p.m. ET on Monday after the biotech company said Friday that Canada will pay $349.6 million for unused COVID-19 shots from the company. The stock is still down more than 12% so far this year.
The company specializes in vaccines. It said that Canada is paying, in two installments, to settle the forfeiture of deliveries for unneeded COVID-19 shots. That was the second bit of good news Novavax got last week. On Thursday, it said that had received updated Marketing Authorization (MA) from the European Union for its Nuvaxovid vaccine for those 12 and older and as a booster for adults. Initially, the European Commission had only given a conditional MA for Nuvaxovid.
The European Commission's decision on the vaccine was based on the safety and efficacy it showed in a phase 3 trial. The vaccine is approved in more than 40 countries.
Source Fool.com
Novavax Inc. Stock
Our community is currently high on Novavax Inc. with 4 Buy predictions and 1 Sell predictions.
With a target price of 22 € there is a hugely positive potential of 93.66% for Novavax Inc. compared to the current price of 11.36 €.
