In January last year, employees of Novavax Inc. they met at a local bar in Maryland to discuss how they could save their careers. For decades, small biotechnologies have tried to develop an approved vaccine, but without success. The company had enough money to survive for just six more months or more, and its shares were trading below $ 4, with a market value of $ 127 million.
Today, Novavax is making progress in allowing the Covid-19 vaccine. Scientists believe that if cleared, it could be one of the most powerful weapons against the pandemic, offering key possible advantages over its competitors. Some early evidence suggests that a shot of Novavax may be one of the first to stop the asymptomatic spread of the coronavirus and also potentially provide longer-lasting protection.
If the vaccine is allowed, Novavax will still face the challenge of producing and distributing it in large quantities. The company sold some production assets in 201
Investors who left the 33-year-old company dead last year are betting that regulators will allow the Novavax vaccine in the next few months. They have sent shares of Nasdaq to $ 229, which is 106% so far this year. Late last month, Novavax released preliminary data showing that its shot was effective in defending against Covid-19, albeit less against a new strain identified in South Africa that appears to be a challenge for other shots as well. The results of the latest vaccine study in the United States may be published at the end of next month.
Novavax now has a market value of $ 15.4 billion, higher than that of companies with billions of dollars in annual sales, including giant drug giant Teva Pharmaceutical Industries Ltd.