What happened with Novavax Stock and why?
What happened
Novavax (NASDAQ:NVAX), a late-stage vaccine developer, is poised for yet another strong session today. Specifically, the biotech's shares jumped by as much as 35% in premarket trading Tuesday morning. If this latest move northward holds during today's session, Novavax's stock will have risen by an astounding 3,500% for the whole of 2020.
The catalyst? Ahead of the opening bell, Novavax announced that the federal government -- through the Operation Warp Speed (OWS) program -- awarded the company a staggering $1.6 billion to complete the late-stage development of its COVID-19 vaccine candidate known as NVX-CoV2373. The funding will reportedly be used to support a pivotal-stage trial, along with the production of 100 million doses of NVX‑CoV2373 by January 2021.
here you can see the movement the stock has made in the past month:
