NVAX Stock Price: Novavax Inc.surging 34% after $1.6 billion COVID-19 vaccine candidate grant


  • NASDAQ: NVAX is trading at new record highs following a dramatic announcement. 
  • The US government has awarded Novavax $1.6 billion toward trialing and producing a coronavirus vaccine.
  • Novavax may leapfrog its competition in the race against COVID-19.

Novavax Inc. (NASDAQ: NVAX) is trading at $107 in pre-market trading on Tuesday, up some 34% and above the 52-week high of $89.50. The Gaithersburg, Maryland-based firm that also operates in Sweden focuses on producing immunizations and has seen its stocks up some nearly 20 times from the 52-week low of $3.54 – before the most recent surge. 

NVAX news

Novavax has been awarded a whopping $1.6 billion sum from the US federal government to develop and manufacture a COVID-19 vaccine candidate. The race to curb coronavirus continues at full force with Moderna, Oxford University, and other companies racing to find a cure. 

The government investment is part of Washington's "Operation Warp Speed" project, intended to accelerate and discovering and distribution of a vaccine that would put COVID-19 to rest. 

The funds will serve to fund the candidate coded NVX-CoV2373 including the Phase 3 trial and potentially to distribute them by late 2020 – an ambitious target. Nevertheless, the boost from the government may allow NASDAQ: NVAX to bypass the fierce competition.

Phase 1/2 consists of 130 healthy participants and was launched in Australia in May. Results are due out by late July. The third phase is larger, with 30,000 subjects. 

Broader markets are set to open lower on Tuesday after surging on Monday. Cooling down in Asian markets and concerns ahead of new COVID-19 statistics from Florida, Texas, and other states are weighing on sentiment

The US is recording around 50,000 cases per day, with the positive test rate and hospitalizations also on the rise. On the other hand, the death rate has been decline. 

More Novavax ($NVAX) riding the waves

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

EUR/USD falls toward 1.0500 amid risk-off mood

EUR/USD falls toward 1.0500 amid risk-off mood

EUR/USD has come under fresh selling pressure, easing toward 1.0500 in the European session on Thursday. The pair faces headwinds from risk-off flows due to rising geopolitical conflict between Russia and Ukraine and worries over the potential US tariffs on the EU. ECB- and Fedspeak are awaited. 

EUR/USD News
GBP/USD stays pressured toward 1.2600 ahead of US data, Fedspeak

GBP/USD stays pressured toward 1.2600 ahead of US data, Fedspeak

GBP/USD remains pressured toward 1.2600 in European trading on Thursday. The pair's underperformance could be attributed to a risk-aversion market environment. Traders stay cautious amid rife geopolitical tensions ahead of mid-tier US data and Fedspeak. 

GBP/USD News
Gold price extends gains beyond $2,650 amid rising geopolitical risks

Gold price extends gains beyond $2,650 amid rising geopolitical risks

Gold price extends its bullish momentum further above $2,650 in Thursday's European session. Gold price risies for the fourth straight day, sponsored by geopolitical risks stemming from the worsening Russia-Ukraine war. US data and Fedspeak are next in focus. 

Gold News
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu (SHIB) trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.

Read more
Why Nvidia’s story is far from over

Why Nvidia’s story is far from over

Nvidia delivers another earnings beat: Nvidia exceeded expectations with $35.08 billion in revenue, a 94% year-over-year increase, driven by strong performance in its data center business, which more than doubled to $30.8 billion.

Read more
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

Forex MAJORS

Cryptocurrencies

Signatures