SNY - Does Soaring Novavax Stock Have Enough Fuel to Climb Higher?
2024-05-14 05:11:00 ET
Shares of the struggling vaccine developer Novavax (NASDAQ: NVAX) bounded 98.7% higher on Friday, May 10. The market was responding to terrific news from Sanofi (NASDAQ: SNY) , a global pharmaceutical giant that wants to market Novavax's COVID-19 and influenza vaccines.
The recent Novavax stock rally continued after the weekend and investors are right to wonder if it has more fuel to climb higher. Here's a look at Novavax's deal with Sanofi to see if buying this stock now could be a smart move.
The Novavax COVID-19 vaccine, which is called Nuvaxovid outside of the U.S., isn't like the mRNA vaccines from Moderna and Pfizer . Instead of goading your body's cellular machinery to make a protein that resembles the surface of the SARS-CoV-2 virus, Nuvaxovid is an injection of a similar protein already manufactured by moth cells.
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Does Soaring Novavax Stock Have Enough Fuel to Climb Higher?