The NVAX stock price soared 22.95% in the after-hours session on Thursday, March 11, 2021, after the company announced its high efficacy against all reported variants of COVID-19. On March 11, 2021, the company released the data confirming the final effectiveness of 96.4% against mild, moderate, and severe disease caused by the original COVID-19 strain in a pivotal Phase 3 trial in the United Kingdom (U.K.) of NVX–CoV2373, the company’s vaccine candidate. The company also confirmed the complete analysis of its Phase 2b trial in South Africa, with an efficacy of 55.4% among the HIV- negative trial participants in a region where the vast majority of strains are B1.351 escape variants. In both trials, NVX-CoV2373 showed 100% protection against severe disease.
Novavax Stock Performance:
The company’s 2021 start was fantastic, and the stock rallied more than 180% by early February. But after that, stock value starts declining, and it lost 50% of its value from the month ago. But there are several reasons to buy the Novavax stock after its vast pullback.
Why should you buy the NVAX shares?
Attractive valuation: the NVAX current valuation is below $12 billion due to a big sell-off. Analysts predict that Novavax can make a $5billion sale this year, and it can cross this figure if we see the recent positive trial results of COVID Vaccine.
Long-term Opportunities: With the recent positive trials of the Covid vaccine, NVX-CoV2373 company has many long-term plans. Before the pandemic, its flu vaccine NanoFlu was the only main attraction for the investors, but now the trial’s positive results will attract more investors. In March 2020, the company reported overwhelmingly positive results from a late-stage study of the flu vaccine in a head-to-head comparison against Sanofi’s Fluzone Quadrivalent.
About the Company:
Novavax, Inc. is a late-stage biotechnology vaccine development company headquartered in Gaithersburg, Maryland, with additional facilities in Rockville, Maryland, and Uppsala, Sweden. Novavax aims to improve global health through the discovery, development, and commercialization of innovative vaccines to prevent serious infectious diseases. The NVAX has more than a decade of experience dealing with some of the world’s most devastating diseases, including COVID-19, seasonal influenza, RSV, Ebola, MERS, and SARS. Their vaccine is usually genetically engineered using three-dimensional nanostructures of recombinant proteins critical to disease pathogenesis.