Wuhan Coronavirus Hits the U.S. And Vaccine Stock Soars
A mysterious new virus in China has infected more than 300 people and killed six. According to the Centers for Disease Control and Prevention (CDC), this coronavirus started in Wuhan City in China's Hubei Province and has spread to Thailand, Japan, and South Korea. On Tuesday, the CDC confirmed the virus reached the U.S., with a man in Washington state falling ill.
Shares of certain biotech stocks are soaring in response. Novavax (NASDAQ: NVAX) is up 73% today from its closing price Friday. The vaccine specialist has its lead compound, NanoFlu, in phase 3 trials to help stop the recent flu outbreak that has resulted in 57,000 deaths. But the company's platform, vaccines based on recombinant nanoparticle technology, has also been used against the MERS (Middle East Respiratory Syndrome) coronavirus and the SARS (Severe Acute Respiratory Syndrome) coronavirus.
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Source Fool.com
