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Novavax Secures Additional $147M From Warp Speed Program For COVID-19 Vaccine

Novavax Secures Additional $147M From Warp Speed Program For COVID-19 Vaccine
  • According to an SEC filingNovavax Inc (NASDAQ: NVAX) has received an additional $147.3M as part of Operation Warp Speed to develop a COVID-19 vaccine dubbed NVX-CoV2373.
  • This addition brings its total from the program to $1.74 billion, which was announced in July last year.
  • President Joe Biden directly mentioned the company earlier this week, saying that upcoming vaccines, including one from Novavax, could be shared with other countries.
  • Early data out this year showed its vaccine could keep up in efficacy terms with the vaccine leaders, namely Pfizer Inc (NYSE: PFE) - BioNTech SE (NASDAQ: BNTX), and Moderna Inc (NASDAQ: MRNA).
  • While behind in authorizations compared to its rivals, which also now include AstraZeneca Plc (NASDAQ: AZN) and Johnson & Johnson (NYSE: JNJ) (though both have been hit recently with some safety concerns), with the rise of variants and outbreaks in highly populated places like Brazil and India, it still has a place globally to deliver billions of doses.
  • Price Action: NVAX shares are up 1.09% at $240.13 during the market session on the last check Friday.

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