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Why Novavax Stock Is Popping, Despite Vaccine Rollout Issues: Report

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Why Novavax Stock Is Popping, Despite Vaccine Rollout Issues: Report

Novavax, Inc. (NASDAQ: NVAX) coronavirus vaccine candidate is inching closer to the final leg of clinical testing and could be approved soon after, contingent on the data.  However, the vaccine developer is facing trouble in stepping up production to achieve full potential.

What Happened: Novavax is unlikely to achieve its production target of 150 million doses of its COVID-19 vaccine per month by the originally publicized deadline of May or June, Reuters reported.

Full-scale vaccine production will now become a reality only in the third quarter, the report said, citing the company's communications director Amy Speak.

The potential delay is reportedly due to supply shortages for items, including bioreactor bags and filters.

Related Link: The Week Ahead In Biotech (April 11-17): Avenue Therapeutics FDA Decision and Conference Presentations In The Spotlight

Why It's Important: The production handicap bodes ill for Novavax, especially as others such as BioNTech SE (NASDAQ: BNTX), Pfizer Inc. (NYSE: PFE) and Moderna Inc (NASDAQ: MRNA) have scaled up and are distributing their vaccines across the globe in full swing.

Novavax has a lot to do to catch up, despite its vaccine differentiating itself from the already available vaccines in the market by its logistical advantage and proven efficacy against variant strains of the virus.

NVAX Price Action: On Tuesday morning, Novavax shares were rallying 11.89% to $196.53, reacting to the negative news flow on Johnson & Johnson's (NYSE: JNJ) vaccine.

Related Link: Attention Biotech Investors: Mark Your Calendar For April PDUFA Dates

(Photo: Novavax)

 

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