Novavax (NVAX) Stock Increases 9% in a Month: Here's Why

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Novavax (NVAX) Stock Increases 9% in a Month: Here's Why

Zacks2023-09-06

Shares of Novavax, Inc. NVAX have risen 9.2% since the last month compared with the industry’s 2.9% growth. Image Source: Zacks Investment Research This upside is attributable to Novavax’s progress ...

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SL1977
·2023-09-06
super good news
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setia100
·2023-09-06
Good show is coming this fall 😁 Hold your horse 👌😀 Please share your thoughts if any ❓
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NVAX have risen 9.2% since the last month compared with the industry’s 2.9% growth.\nImage Source: Zacks Investment Research\nThis upside is attributable to Novavax’s progress with its updated protein-based COVID-19 vaccine. This vaccine, designed to target the XBB descendent lineage viruses, has also generated neutralizing antibodies against the newly emerging virus variants, including EG.5.1 (also known as ‘Eris’) and XBB.1.16.6.\nDesignated by the World Health Organization (“WHO”) as a variant of interest, Eris is the dominant variant in the United States. Per the latest data from the Centers for Disease Control and Prevention (“CDC”), the Eris variant is responsible for around 21.5% of COVID-19 infections in the country.\nInfection cases from XBB.1.16.6 are also growing in the United States. The latest CDC data shows that this variant accounted for 9.2% of all cases nationwide.\nPer the CDC, total hospitalizations due to COVID-19 rose by almost 19% in the most recent week. Last month, Reuters reported that the Biden administration will start a fall campaign urging all citizens to inoculate themselves with the updated COVID-19 vaccines.\nThe updated Novavax vaccine is yet to be authorized by the FDA. If approved/authorized, Novavax’s updated vaccine will be a non-mRNA XBB.1.5 vaccine available in the United States. The company aims to make its updated vaccine available and accessible on par with mRNA-based COVID-19 vaccines marketed by Pfizer PFE/BioNTech BNTX and Moderna MRNA.\nAlongside its second-quarter 2023 results, Novavax announced that it had initiated a filing with the FDA for this updated COVID-19 vaccine and intends to submit one in Europe in the coming weeks. Management stated that it is manufacturing the updated vaccine commercially and planning to launch it in the upcoming fall.\nWith Novavax currently struggling with cash flow needs, a surge for COVID-19 vaccines will help the company generate additional cash resources to fund its business operations. In a quarterly SEC filing last month, management stated they have sufficient cash to fund business for the next twelve months.\nNovavax is one of the few companies which has an authorized vaccine for COVID-19 in the United States. However, the company faces stiff competition from Pfizer/BioNTech and Moderna, which currently dominate the COVID vaccination space. These companies have also updated their COVID vaccines, demonstrating robust immune responses against the newer coronavirus variants.\nLast month, Moderna reported preliminary results from a clinical study showing that its updated COVID-19 vaccine mRNA-1273.815 significantly boosted neutralizing antibodies against the Eris and FL.1.5.1 (also known as ‘Fornax’) variants.Moderna has also submitted a regulatory application to the FDA seeking authorization for mRNA-1273.815. A final FDA decision is expected in the coming weeks for the vaccine’s launch for the upcoming fall season. A similar regulatory submission is also currently under review in Europe.\nIn June, Pfizer/BioNTech submitted filings in the United States and Europe seeking approval for their Omicron XBB.1.5-adapted monovalent COVID-19 vaccine. If approved, the companies intend to launch their vaccine for the fall season. In preclinical studies, the updated BioNTech/Pfizer vaccine has shown efficacy against the Eris variant and multiple other XBB variants, including XBB.1.5, XBB.1.16, and XBB.2.3. The companies expect to prepare their updated COVID vaccine for supply immediately post-regulatory approvals.\n\nNovavax, Inc. Price\n\nNovavax, Inc. price | Novavax, Inc. Quote\n\n \nZacks Rank\nNovavax currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nPfizer Inc. (PFE) : Free Stock Analysis Report\nModerna, Inc. (MRNA) : Free Stock Analysis Report\nNovavax, Inc. (NVAX) : Free Stock Analysis Report\nBioNTech SE Sponsored ADR (BNTX) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":217048347664464,"gmtCreate":1694013659147,"gmtModify":1694013663108,"author":{"id":"3577882033944507","authorId":"3577882033944507","name":"SL1977","avatar":"https://static.tigerbbs.com/846343ca761b93618fb0332b00e58af9","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":5,"crmLevelSwitch":1,"idStr":"3577882033944507","authorIdStr":"3577882033944507"},"htmlText":"super good news&nbsp;","listText":"super good news&nbsp;","text":"super good news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/217048347664464","repostId":2365061477,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":217047309828176,"gmtCreate":1694013405768,"gmtModify":1694013410723,"author":{"id":"3567852837945728","authorId":"3567852837945728","name":"setia100","avatar":"https://community-static.tradeup.com/news/5d07af59743ad001196b7aca5f1726d7","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3567852837945728","authorIdStr":"3567852837945728"},"htmlText":"Good show is coming this fall 😁 Hold your&nbsp;horse 👌😀 Please share your thoughts if any ❓","listText":"Good show is coming this fall 😁 Hold your&nbsp;horse 👌😀 Please share your thoughts if any ❓","text":"Good show is coming this fall 😁 Hold your horse 👌😀 Please share your thoughts if any ❓","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/217047309828176","repostId":2365061477,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":2,"commentSize":2,"repostSize":2,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}