Here's Why Novavax Is Trading Higher Today

Novavax, Inc. NVAX shares are trading higher by 3.5% at $246 following recent favorable commentary on its COVID-19 vaccine by President Biden and the company receiving an additional $147.3 million as part of Operation Warp Speed to develop a COVID-19 vaccine. The stock could also be gaining in anticipation of upcoming vaccine data.

Novavax is a biotechnology company that develops vaccines. The company works in the clinical stage of development with a focus on delivering novel products that prevent a broad range of diseases. Novavax works together with its wholly-owned Swedish subsidiary to produce vaccine candidates to respond to both known and emerging disease threats.