Ever since the onset of the novel coronavirus pandemic last year, traders have paid extra attention to vaccine makers like Novavax (NASDAQ:NVAX). And folks who bought NVAX stock early and held on to their shares have earned substantial returns.
As we’ll see however, the share price has fallen from its peak. It’s possible that as other vaccine manufacturers get more press coverage, Novavax is being dismissed by some.
But it would be a mistake to ignore NVAX stock now, as there’s data to show progress in the development of potentially lifesaving vaccines.
If you’re waiting around for the share price to dip further, you might miss out on an opportunity. Today, I invite you to focus on the progress that Novavax is making and consider the upside potential for the stock.
NVAX Stock at a Glance
It’s amazing to consider that back in May of 2020, you could have bought NVAX stock for less than $20.
Nowadays there’s little chance of getting the shares at such a low price point. In mid-March, the share price was holding steady around $200. That represents massive gains over the past year, but the stock has actually been 50% higher than even that.
On Feb. 8, 2021, NVAX stock touched a 52-week high of $331.68. The share price retraced after reaching that peak, but I don’t view this as a bad thing.
If anything, it’s just evidence that the stock is capable of going much higher. As long as you find value in the company, there’s no reason to sell your shares if you have them — and you might even consider taking a new position or adding to an existing one.
Tracking the Global Progress
Novavax’s most well-known product in the pipeline is Covid-19 vaccine candidate, NVX-CoV2373.
I’ll now provide a rundown of the progress of NVX-CoV2373 in various geographic regions:
- U.S. and Australia: Phase 1 clinical trial enrollment complete and data published; Phase 2 enrollment complete and booster study ongoing;
- United Kingdom: Phase 3 enrollment complete and final data announced;
- South Africa: Phase 2b enrollment complete and final data announced;
- U.S. and Mexico (this clinical trial is called “Prevent-19”): Phase 3 enrollment complete and interim data expected during the second quarter of 2021
As you can see, Novavax has been making good progress in advancing NVX-CoV2373 not just in the U.S., but globally.
Plus, not long ago Novavax disclosed excellent results in two separate regions.
First, for the Phase 3 trial in the U.K., Novavax announced “final efficacy of 96.4% against mild, moderate and severe disease caused by the original COVID-19 strain.”
Demonstrating Strong Protection
Moreover, for the Phase 2b trial taking place in South Africa, the company observed “efficacy of 55.4% among the HIV- negative trial participants in a region where the vast majority of strains are B1.351 escape variants.”
Naturally, stakeholders would like to see a greater efficacy than 55.4%. Still, it’s progress as the scientific community is still grappling with the challenges present by variant strains.
Besides, the efficacy rate noted above for the Phase 3 U.K. clinical trial should prove to the skeptics that Novavax is still on the leading edge of vaccine science.
And here’s where it gets even better. In both the U.K. and South African clinical trials, NVX-CoV2373 “demonstrated 100% protection against severe disease, including all hospitalization and death.”
Think about that: in the U.K. trial, NVX-CoV2373 demonstrated 96.4% efficacy against mild, moderate and severe disease, and 100% protection against severe disease related to Covid-19.
This result should be considered a real game changer in the advancement of Covid-19 vaccines globally.
It’s tempting to just focus on the vaccine manufacturers that are getting more press coverage than Novavax. However, investors shouldn’t dismiss this innovative company now.
Novavax has provided data to demonstrate the impressive efficacy rate of its Covid-19 vaccine candidate. NVAX stock has room to run back to its prior peak price.
On the date of publication, Louis Navellier had a long position in NVAX. Louis Navellier did not have (either directly or indirectly) any other positions in the securities mentioned in this article.
The InvestorPlace Research Staff member primarily responsible for this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article.
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