44.48 -0.18 (-0.40%)
After hours: 7:57PM EDT
|Bid||44.50 x 1800|
|Ask||44.66 x 1000|
|Day's Range||42.88 - 46.66|
|52 Week Range||3.54 - 61.50|
|Beta (5Y Monthly)||0.36|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
(Bloomberg) -- Don’t give up hope for Novavax Inc. and Inovio Pharmaceuticals Inc., Wall Street analysts said after the two failed to appear on a Trump administration list of Covid-19 vaccine developers picked for Operation Warp Speed.The pair slid more than 10% on Wednesday following a New York Times report saying that the White House’s list included larger drugmakers such as AstraZeneca PLC, Johnson & Johnson, Merck & Co. and Pfizer Inc., but not the pair of small-caps.Bloomberg reporting shows that two other, as yet unnamed, companies have also been selected for the U.S. government’s effort. An official announcement is expected within weeks.One analyst thought Inovio must be one of the missing finalists from the White House’s effort. “INO-4800 is more-than-likely on the short list of remaining vaccine candidates,” Stifel’s Stephen Willey wrote, pointing to safety and immunogenicity results expected by the end of the month as well as Inovio’s “competitive advantages.” The Plymouth Meeting, Pennsylvania-based company’s experimental vaccine, INO-4800, uses part of the virus’s DNA to trigger an immune response.“WARP Speed finalists may not be final” and the initial list may be short-sighted, Cantor Fitzgerald analyst Charles Duncan said. “Show me the data,” he said, noting the vaccine developers mentioned were “high-profile, large pharma candidates, all of which lack significant clinical experience.”Duncan expects that different approaches to developing an immunization against Covid-19 will be needed and saw both Inovio and Novavax’s candidates as good options, though neither has yet to commercialize a product. He gives Inovio and Novavax buy-equivalent ratings.The two U.S.-based biotechs are each working on one of the 10 vaccines for Covid-19 currently being tested in humans, according to the World Health Organization. More than 120 others are being tested in animals. Also in the clinical stages of vaccine development, but not mentioned in the Bloomberg or N.Y.Times reports, are Chinese vaccine developers Sinovac Biotech Ltd., CanSino Biologics Inc. and SinoPharm Group Co., all three of whom are conducting human trials of vaccines.Moderna Inc., another unproven vaccine developer that’s working on an RNA-based immunization, was selected. The Cambridge, Massachusetts-based biotech has been working with the National Institutes of Health since the start of the pandemic and is already backed by more than $400 million in federal funding. One problem with Moderna’s and other rival’s methods will be cold storage and finding enough facilities to house their vaccines. That’s not a problem for Novavax’s protein based approach or Inovio’s DNA-based platform, Cantor’s Duncan said.Novavax is not without backers. The biotech secured $388 million in May, the single largest grant from the Coalition for Epidemic Preparedness Innovations (CEPI) at the time. Inovio has received $17 million from the Oslo-based group.Another blow to confidence in untested vaccine developers came on Thursday after AstraZeneca secured $750 million from CEPI and Gavi, the Vaccine Alliance, a non-profit organization.Prominent makers of vaccines such as Sanofi and GlaxoSmithKline Plc, were also notably absent from the White House list. Operation Warp Speed is headed up by Moncef Slaoui, a former Glaxo executive.Inovio fell as much as 4.3% Thursday. Novavax rose as much as 5.5% before paring most of those gains.Inovio and Novavax didn’t immediately respond to emails seeking comment.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Novavax is well ahead in clinical testing than two of the White House's COVID-19 vaccine finalists.
The global economy is slowly emerging from lockdowns enacted to beat back the coronavirus. The pandemic isn't going anywhere, however, and hopes of a return to a semblance of normal rest heavily on the speedy development of vaccines against SARS-CoV-2, the virus that causes COVID-19.Fast-Tracking Vaccine Programs Vaccine development typically takes about 10-15 years, as it has to go through the same general pathway as that of drugs and biologics. With the advent of new classes of vaccines such as DNA and mRNA vaccines, development timelines could be tightened relative to traditional vaccines.Pandemics in recent history such as the MERS and SARS, also caused by coronaviruses, set in motion several R&D programs that have come in handy in today's scenario, as the new coronavirus shares 80% of its traits with its predecessors.Public-private partnerships have been forged to expedite vaccine programs. In mid-April, the National Institutes of Health announced a co-operative framework involving several biopharma companies, the Health and Human Services Office of the Assistant Secretary for Preparedness and Response, the CDC, the FDA and the European Medicines Agency for expediting drug and vaccine research. Federal agencies have extended funding for companies with promising vaccine candidates in their pipeline, and this has given them the freedom to focus on research without having to worry about finances.The U.S. government recently launched the "Operation Warp Speed" project, which has among its objectives ensuring the availability of substantial quantities of a safe and effective vaccine for Americans by January 2021.Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.US Government Backs 5 Vaccine Candidates In order to narrow the focus on the most deserving vaccine candidates, the Trump administration has shortlisted five from a crowded field and will likely make an announcement in this regard in the next few weeks, the New York Times reported.The shortlisted companies are, according to the Times: * Moderna Inc (NASDAQ: MRNA) * The Oxford University/AstraZeneca plc (NYSE: AZN) combination * Johnson & Johnson (NYSE: JNJ) * Merck & Co., Inc. (NYSE: MRK) * Pfizer Inc. (NYSE: PFE)Incidentally, Merck was a late entrant in the vaccine race, with the pharma giant announcing partnerships and deals to develop COVID-19 treatments and vaccines only recently.10 Vaccine Candidates In Clinics, 123 More In Labs A June 2 document from the World Health Organization showed that 10 vaccine candidates are in the clinics and 123 more are being evaluated in animal studies. Among the 10 vaccine candidates being tested in human studies, five are developed by Chinese firms or institutions. Here's an update on the 10 vaccines in the clinics:University Of Oxford/AstraZeneca The vaccine developed by the University of Oxford in collaboration with AstraZeneca was codenamed ChAdOx1 nCoV-19, a weakened version of a common cold virus that causes infections in chimpanzees.It has been genetically modified to make to prevent it from replicating in humans. After the university tied up with AstraZeneca, the vaccine candidate was renamed as AZD1222. AZD1222 is in a Phase 2/3 trial, with the university enrolling participants for the study in late May.Results from an ongoing Phase 1/2 trial could be available in mid-June; a university official was quoted as saying mid-May. AstraZeneca has received over $1 billion in BARDA funding for the development, production and delivery of the vaccine starting this fall.In late May, Adrian Hill, one of the lead investigators of the vaccine program, suggested the vaccine has only a 50% chance of succeeding, as the viral incidence receded in the community.Moderna Moderna, which is collaborating with NIAID for developing an mRNA vaccine, codenamed mRNA-1273, said recently it has dosed the first participant in a Phase 2 trial. The company also released interim data for its vaccine candidate from a NIAID-sponsored Phase 1 study, which showed dose-dependent increases in immunogenicity between prime and boost within the 25-microgram and 100-microgram dose levels. Moderna has prepped for scaling by forming an alliance with Swiss CDMO Lonza.See also: Inovio Analyst Watches Coronavirus Play 'From The Sidelines'CanSino Biological Inc./Beijing Institute of Biotechnology CanSino, which was the first to begin vaccine testing, announced last week the publication of Phase 1 data of its vaccine candidate Ad5 that showed most people developed immune responses.Yet he number of people developing neutralizing antibodies -- the ones that count for preventing infection -- was 75% among those who received the high dose and 50% among those who received the medium or low dose.A Phase 2 study of Ad5 was started in April and is underway. Ad5 is a genetically engineered adenovirus that delivers the gene encoding the spike protein of the SARS-CoV-2 into human cells.Wuhan Institute of Biological Products/Sinopharm The combo's vaccine candidate entered Phase 2 trials April 24, according to Xinhua. The Phase 1 trial is ongoing, the report said at that time. Sinopharm, one of the partners, seemed to suggest it will take one year of evaluation to determine the efficacy and safety of the inactivated vaccine candidate.Sinovac Sinovac, which began working on an inactivated vaccine candidate in January, said recently it is 99% confident in its vaccine candidate, codenamed CoronaVac. The candidate is in a Phase 1/2 trial. The company recently received $15 million in funding from private investors in lieu of a stake in the company.Novavax Novavax, Inc. (NASDAQ: NVAX) identified its vaccine candidate, codenamed NVX-CoV2373, in early April. The vaccine candidate is a stable prefusion protein made using the company's proprietary nanoparticle technology, with Matrix-M adjuvant incorporated to enhance the immunity response of the vaccine.The company said May 25 it enrolled the first participant in the Phase 1 portion of a Phase 1/2 study it has initiated, with results from the Phase 1 portion expected in July. In mid-May, the company announced an award of an incremental $384 million in funding by the Coalition for Epidemic Preparedness Innovations. On Wednesday, AGC Biologics said it has been tasked with manufacturing Matrix-M adjuvant by Novavax.Beijing Institute Of Biological Products/Sinopharm State-affiliated Beijing Institute of Biological Products, which is developing an inactivated vaccine in a Phase 1/2 trial, has started the Phase 2 trial, a post on the WeChat account of the Chinese state-owned Assets Supervision and Administration Commission said. Pfizer/BioNTech Pfizer is collaborating with German biopharma BioNTech SE - ADR (NASDAQ: BNTX) for vaccine development. BioNTech is evaluating four vaccine candidates in its BNT162 program. These are mRNA vaccines combined with a lipid nanoparticle formulation. BNT162 is being tested in separate Phase 1/2 trials in Europe and the U.S. Pfizer will be vested with the responsibility of scaling up at risk.Institute Of Medical Biology, Chinese Academy Of Medical Sciences In mid-May, the institute received approval for commencing a Phase 1 study.Inovio Inovio Pharmaceuticals Inc (NASDAQ: INO), which is developing a DNA vaccine codenamed INO-4800, said in its May 11 earnings release it has completed enrollment in a Phase 1 study.It anticipates commencing a Phase 2/3 efficacy trial in summer, subject to regulatory approval. Inovio has received funding from the CEPI as well as the Bill & Melinda Gates Foundation.Among others, J&J, which has identified a lead vaccine candidate, plans a clinical study by September. The company expects the first batches of a vaccine to be available for emergency use authorization by early 2021.Several other companies are also in the fray, including Sorrento Therapeutics Inc (NASDAQ: SRNE), Regeneron Pharmaceuticals Inc (NASDAQ: REGN) and Sanofi SA (NASDAQ: SNY).Related Link: These 6 Coronavirus Vaccine Candidates Are The Likeliest To Succeed, Says Morgan Stanley See more from Benzinga * The Daily Biotech Pulse: Regulatory Delay For Novartis' Multiple Sclerosis Drug, FSD Gets Nod For COVID-19 Study * The Daily Biotech Pulse: FDA Nod For Roche's Combo Therapy In Liver Cancer, Allena Rips Higher, Pfizer To Invest Up To 0M In Biotechs * Attention Biotech Investors: Mark Your Calendar For June PDUFA Dates(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Investors need to pay close attention to Novavax (NVAX) stock based on the movements in the options market lately.
Between a big biotech with the leading COVID-19 therapy and a small biotech with a promising COVID-19 vaccine candidate, which stock wins?
What happened Shares of Novavax (NASDAQ: NVAX) were soaring 14.9% as of 3 p.m. EDT on Monday. The big jump came after B. Riley FBR analyst Mayank Mamtani boosted his 12-month price target on the biotech stock to $61 per share from $53.
In this article we will check out the progression of hedge fund sentiment towards Novavax, Inc. (NASDAQ:NVAX) and determine whether it is a good investment right now. We at Insider Monkey like to examine what billionaires and hedge funds think of a company before spending days of research on it. Given their 2 and 20 […]
Is now the right time to invest in a company whose shares have left SpaceX in the dust and blasted off by more than 1,000% in 2020?According to B.Riley FBR analyst Mayank Mamtani, it is, if the company in question is vaccine specialist Novavax (NVAX). Not only does the 5-star analyst have a Buy rating on NVAX shares, but his price target just got a bump – up from $53 to $61. Investors can expect returns in the shape of 16%, should Mamtani’s thesis play out over the next year. (To watch Mamtani’s track record, click here)Optimism regarding the biotech’s COVID-19 vaccine program just got another boost, too.Last week, Novavax disclosed it is acquiring Czech Republic-based Praha Vaccines in a cash transaction worth approximately $167 million.Putting the recent $384 million CEPI funding to good use, as part of the acquisition, Novavax will get its hands on a 150,000 square foot vaccine and biologics manufacturing facility in Bohumil, Czech Republic. Praha’s existing employees will stay on along with all the required infrastructure, which will allow Novavax to ramp up production of its COVID-19 vaccine candidate, NVX-CoV2373. NVAX believes that with the new addition it can produce more than 1 billion doses annually, starting next year.Praha Vaccines is part of the Cyrus Poonawalla Group, also the parent company of the Serum Institute of India (SII). The SII is the world's leading vaccine producer by volume, producing over 1.3 billion doses of vaccines per year for diseases such as tetanus, polio, and diphtheria.In Mamtani’s opinion, the new acquisition will enable Novavax to compete with bigger players vying to be first over the line with the urgently needed vaccine. It should also assuage investors' concerns that Novavax lacks the required resources to go head to head with industry heavyweights.Mamtani said, “We view this as another encouraging development providing validation to the de-risked nature of NVAX's vaccine candidate, on the basis of the most extensive/differentiated preclinical data generated to date, and now reviewed closely by global scientific community residing with CEPI, WHO, and SII as well as U.S. agencies such as CDC, NIH-NIAID, and BARDA.”Mamtani is not alone in his assessment. All 5 analysts to have published a review of Novavax over the past three months have reached the same conclusion: Buy. Therefore, NVAX has a Strong Buy consensus rating to go along with a $49.20 average price target. The figure implies 7% upside potential over the coming months. (See Novavax stock analysis on TipRanks)To find good ideas for biotech stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Reopening of the economy, vaccine hopes and stimulus measures helped Wall Street climb north in May and squash the old adage "sell in May and go away."
The U.S. government on Monday entered into a $628 million contract with drugmaker Emergent BioSolutions to boost manufacturing capacity for a potential COVID-19 vaccine. As drugmakers race to develop vaccines, tests and therapies for COVID-19, the United States is looking to secure manufacturing capacity under its "Operation Warp Speed" program announced in May to accelerate vaccine development. "Securing more manufacturing capacity here in America for candidates that make it to the final stages of Operation Warp Speed will help get a vaccine to American patients without a day wasted," Department of Health and Human Services (HHS) Secretary Alex Azar said in a statement.
Speculators are buying up shares of Novavax, based on a vast market opportunity for its COVID-19 vaccine. But there's even better news that largely mitigates any downside risk.
Small cap stocks are listed companies that have market capitalizations typically ranging from $300 million to $2 billion. Since the share prices of these companies can have big fluctuations over a short period of time, companies with market caps of up to $10 billion are also found in the small cap universe. Small cap stocks, as represented by the Russell 2000 Index (RUT), have underperformed the broader market over the past 12 months.
Speculation surrounding the novel coronavirus has taken over the stock market. Hope for a cure or, better yet, a vaccine, is driving traders into frenzies. Much of the action is centered around Moderna (NASDAQ:MRNA) and MRNA stock.Source: Shutterstock While the company had just $8.3 million in revenue for the March quarter, it entered trade May 29 with a market cap of $20.6 billion.MRNA stock has been on fire for months. In February, the shares cost $18. It was the release of Phase 1 data earlier this month that sent traders into a frenzy. That showed, as expected, that antibodies against the virus were produced in test subjects. The company also said it was rapidly scaling up production.InvestorPlace - Stock Market News, Stock Advice & Trading TipsTraders who had been buying Moderna rumors sold the news. The shares have since fallen from the mid-80's to the mid-50's. Why Moderna?Nothing has gone wrong, from a scientific standpoint. It's just that there are no guarantees Moderna has the winning lottery ticket.There are now 28 different vaccines being researched around the world, with eight in some type of clinical trial. There are vaccines being tested in England, in China and in Australia. Two other publicly traded U.S. companies, Pfizer (NYSE:PFE) and Inovio Pharmaceuticals (NASDAQ:INO), have Covid-19 vaccine candidates in trial. Novavax (NASDAQ:NVAX), Johnson & Johnson (NYSE:JNJ), and Altimmune (NASDAQ:ALT) are all doing pre-clinical work. So are Merck (NYSE:MRK), GlaxoSmithKline (NYSE:GSK) and Sanofi (NASDAQ:SNY). * 7 Red-Hot Vaccine Stocks Racing to Develop a Coronavirus Cure Moderna just got there first, with the most publicity. It announced funding on Jan. 23. It's working with the National Institute of Allergy and Infectious Diseases (NIAID), headed by the now-famous Dr. Anthony Fauci. It won an invitation to the White House to talk about its candidate, mRNA-1273. Why Not Moderna?The problem is that vaccines are hard. It's not enough to create antibodies against the disease. A vaccine must stop the spread safely across millions or (in this case) billions of doses.Safety is one issue. Four of the 45 people tested in the Phase 1 study developed reactions to the Moderna vaccine. One 29-year old tweeted that he got a 103 degree fever. He said his dose was 10 times what other patients got, and he didn't go to a hospital in fear of triggering "anti-vax" people.Efficacy is a second issue. Only eight of the subjects produced binding antibodies. Only four were sampled for neutralizing antibodies. The level of T-Cell generation, a measure of how the body is attacking the virus, wasn't mentioned.Moderna's own actions are also an issue. The company announced a $1 billion secondary offering right after its Phase 1 results came out. Some executives sold shares within days. Moderna is moving directly into a Phase 3 study, and mass production, while its Phase 1 is still being evaluated.All these actions have raised suspicions among people who know both science and market valuations. The Bottom Line on MRNA StockThis is my fourth piece on Moderna in six months.I was very positive about MRNA stock when it came public in December. Its methodology, using Messenger RNA, impressed me. In April, I called Moderna "the greatest coronavirus speculation." The problem is success against Covid-19 is now built-into the stock price. Success is far from guaranteed. There are many other horses in this race. It's far from clear how profitable this vaccine will be.It's possible mRNA-1273 could be the start of a business that goes on for decades. It's possible that mRNA-1273 proves Moderna's methodology and it becomes one of the world's great companies. It's also possible that mRNA-1273 fails in Phase 3.There are too many known unknowns for me to recommend investing in MRNA stock at its present price. But you're welcome to speculate.Dana Blankenhorn has been a financial journalist since 1978. His latest book is Technology's Big Bang: Yesterday, Today and Tomorrow with Moore's Law, essays on technology available at the Amazon Kindle store. Follow him on Twitter at @danablankenhorn. As of this writing, he owned shares in JNJ. More From InvestorPlace * Top Stock Picker Reveals His Next 1,000% Winner * The Huge Story for 2020 & Beyond That You Aren't Hearing About * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * The 1 Stock All Retirees Must Own The post Why Moderna Stock Is Still Only Good for Speculators appeared first on InvestorPlace.
When the novel coronavirus touched down on the U.S., the broader travel industry, including top players like United Airlines (NASDAQ:UAL), Delta Air Lines (NYSE:DAL) and American Airlines (NASDAQ:AAL) suffered an almost immediate impact. Of course, this volatility is hardly surprising. Even in the best of circumstances, you can easily get sick in a densely packed flying tube with wings. Thus, UAL stock and its rivals hit every branch of the ugly tree.Source: NextNewMedia / Shutterstock.com However, as my high school football coach loved to say, tough times don't last, but tough people do. For United, it appears that the societal and economic backdrop, while still terrible, are showing signs of life. First, most states have now initiated reopening measures to various degrees. Even economic strongholds like California and New York have implemented regional reopening.Better yet and to my second point, the American public has responded eagerly. Conspicuously, we noticed huge crowds swarm beaches and other large events across the nation. In many cases, it appeared that few cared little about social distancing or mitigation procedures such as wearing masks. After being cooped up in their homes, Americans just want to have fun, to loosely paraphrase Cyndi Lauper.InvestorPlace - Stock Market News, Stock Advice & Trading TipsYou can question the wisdom of these antics. At the same time, this is a positive development for UAL stock. If people are willing to mix it up with thousands of strangers, they'll likely be open to do so with hundreds. * 7 Red-Hot Vaccine Stocks Racing to Develop a Coronavirus Cure Further, travel data - if you're looking at it from a glass-half-full perspective, is encouraging for UAL stock. For instance, the Friday before Memorial Day weekend saw a big percentage gain in air passenger volume relative to this year's lows. The New Normal Will Be Ugly for UAL StockFortunately for speculators, airliner stocks have resonated with the improved travel sentiment. Since mid-May, UAL stock - along with other airliners - have posted double-digit performances. On the surface, it seems that the markets are slowly shifting toward a risk-on profile.Adding to this argument is biotechnology specialist Novavax (NASDAQ:NVAX) announcing the start of early stage clinical trials for its coronavirus vaccine. Should encouraging results stem from the trials, it would potentially give concerned Americans multiple vaccination or treatment options.And really, boosting confidence is what everybody has been trying to do, from the federal government with its emergency relief programs down to local businesses. That momentum is generating has been good enough for those wanting to bet on UAL stock.Granted, its huge discount makes it an attractive buy on paper. However, investors should look at the entire picture before reserving a position.On the Saturday before Memorial Day, Fox Business reported that the Transportation Security Administration screened 253,190 passengers. This was down a staggering 88% from the 2.12 million passengers that flew in the year-ago level. Click to EnlargeSource: Data from Statista In other words, the rebound volume is only 12% of normal capacity. What makes this allocation worse is that this depressed level hasn't been unusual since the pandemic shuttered almost everything. Between April 2 and May 21, the average passenger volume is 6.63% that of 2019 volume during those same days.Yes, a shift from 6.6% to 12% is a sizable improvement. However, if passenger volume continues to remain below 20% throughout this year, I highly doubt that we need so many airliners.While United should survive a potential game of musical chairs, it's very difficult to live off a consumer base that's been gutted 80% or more. International Flight Implosion Will Be a KillerAs you might imagine, the dearth in domestic air travel demand applies to the international realm as well. In fact, many popular global tourist destinations have suffered a catastrophic implosion.Case in point is Japan. This year, the country was scheduled to host the 2020 Summer Olympics before the coronavirus changed everything. Thanks to China, that part of the world received a black eye to its image.Indeed, the situation is so bad that the Japanese government is considering subsidizing some of the travel costs for foreign visitors. While that seems like an extreme measure, consider that only 2,900 non-Japanese tourists visited Japan in April. That's down an unfathomable 99.9%.I'm not sure how Japanese businesses levered to tourism are going to survive this calamity. And I ask the same question about UAL stock and similar investments. Chances are, you're not swimming to Japan. So, this demand erosion represents a direct hit to the airliners.Ultimately, United Airlines is still in the same position it was back when the coronavirus touched down. That the narrative got slightly less ugly doesn't change the overall equation.A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * Top Stock Picker Reveals His Next 1,000% Winner * The Huge Story for 2020 & Beyond That You Aren't Hearing About * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * The 1 Stock All Retirees Must Own The post United Airlines Is a Little Bit Less Ugly appeared first on InvestorPlace.
Volatility is nothing new in the healthcare sector. Nonetheless, vaccine player Novavax’s (NVAX) recent spectacular moon bound rally is on another level.The stock surged by another 147% this month, cumulatively accruing 1025% of gains in 2020. Which begs the far-fetched question: Has Novavax provided the coveted vaccine? Not yet, but it is taking some big strides towards addressing the issue.The latest share appreciation came following news that the coalition for Epidemic Preparedness Innovations (CEPI) will commit up to $388 million to further the development of Novavax’ vaccine candidate against COVID-19 (SARS-CoV-2), NVX-CoV2373. The investment is CEPI’s biggest to date and follows on from what now feels like a miniscule initial $4 million grant to Novavax.In tandem with setting the process of clinical trials in motion (with Phase 1/2 trial data expected by July), part of the funding will go towards ramping up production at various locations around the globe, with a target of matching the largest pharma vaccine developers’ production capacity.Based on Novavax’ vaccine track record, Ladenburg Thalmann analyst Michael Higgins is confident in the outcome, and predicts the Phase 1/2 results “will prove to be safe.” The results are key to his thesis of Novavax’ rNPV (risk-adjusted net present value) as the data will have an impact on the “scale up activities.”Higgins expounded, “While CEPI and Novavax are working collectively to generate the manufacturing capabilities to reach one billion doses in 2021, we are modeling the 100M doses are sold in 2021 at $10/dose, with 50% net margins. Mgt has not provided guidance on our assumptions; but given the low net manufacturing costs (especially on a large scale) we believe our assumptions are within reasonable expectations. We believe the low manufacturing margins contributed to CEPI’s decision, as it seeks to partner with innovators to treat as many global citizens as possible.”Overall, Novavax gets 100% support from the Street, as all 5 analysts tracked over the last 3 months rate the vaccine player a Buy. With an average price target of $49.20, the analyst fraternity projects upside of nearly 10%. (See Novavax stock analysis on TipRanks)To find good ideas for healthcare stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
U.S. cases for coronavirus reached more that 1.69 million, with at least 100,442 deaths from the virus. Dr. Amesh A. Adalja from Johns Hopkins’ Center for Health Security joins The Final Round to discuss the latest about the coronavirus, reopening the United States and the vaccine race.
If all goes according to plan, Novavax anticipates being able to produce 100 million doses in 2020, mostly for frontline workers, and 1 billion doses by 2021.
As the fallout from the coronavirus pandemic continues, the search for a vaccine is not slowing down.
Dan Pipitone, co-founder of TradeZero America, joins The Final Round to discuss what the platform is seeing in the wake of COVID-19 and trends among investors.
These three stocks are leaders in the fight against COVID-19 and have compelling growth prospects beyond their coronavirus programs.
Novavax (NVAX) on Wednesday announced the acquisition of Praha Vaccines to help the late-stage biotech company produce over 1 billion doses of its experimental Covid-19 vaccine candidate starting in 2021.The U.S. company will buy the manufacturing plant for about $167 million in an all cash transaction. Starting in 2021, the plant is expected to provide an annual capacity of over 1 billion doses of antigen for the company’s vaccine candidate, also known as NVX‑CoV2373. As part of the transaction, about 150 employees with experience in vaccine manufacturing and support will join Novavax.“Manufacturing capacity is a critical component of our strategy to deliver a vaccine for the COVID-19 pandemic,” said Stanley C. Erck, President and CEO of Novavax. “This acquisition provides the vital assets required to produce more than 1 billion doses per year. We will continue efforts to expand antigen capacity in the U.S. and Asia, and increase production of Matrix-M to match antigen capacity at multiple sites globally.”NVX‑CoV2373 consists of a stable, prefusion protein antigen made using Novavax’s proprietary nanoparticle technology and includes its proprietary Matrix‑M adjuvant. On Tuesday, Novavax announced that it is starting human testing in its Phase 1/2 clinical trial of the vaccine candidate and is expecting results in July.The Praha Vaccines acquisition is supported by a funding arrangement with the Coalition for Epidemic Preparedness Innovations (CEPI), which will help the company to expand its manufacturing capacity.As part of the deal, the biotech company will work in collaboration with the Serum Institute of India (SII) to boost production levels at the Bohumil facility by the end of 2020.Novavax’s stock has jumped 10 times in value since the start of the year and was down 5.6% trading at $45.47 as of Wednesday’s close.Following the announcement, five-star analyst Mayank Mamtani at B. Riley FBR raised the stock’s price target to $61 from $53, reflecting another 34% upside potential in the shares over the coming year.Mamtani said that he now expects earlier global market entry of the 2373 vaccine candidate as well as “model additional non-dilutive funding to further accelerate development and commercialization activities.” The analyst maintained a Buy rating on the stock.“We view this as another encouraging development providing validation to the de-risked nature of NVAX's vaccine candidate, on the basis of the most extensive/differentiated preclinical data generated to date, and now reviewed closely by global scientific community residing with CEPI, WHO, and SII as well as U.S. agencies such as CDC, NIH-NIAID, and BARDA,” Mamtani wrote in a note to investors.The rest of Wall Street analysts covering the stock in the past three months join Mamtani in their recommendation to Buy the shares. The Strong Buy consensus is backed up by 5 unanimous Buy ratings. In view of the stock’s fast rally this year, the $49.20 average price target indicates a modest 8% upside potential in the coming 12 months. (See Novavax stock analysis on TipRanks).Related News: Novavax Begins Human Testing For Covid-19 Vaccine, Expects Results In July Novavax Spikes 31% on $384 Million Cash Injection for Vaccine Production Novavax Seeks To Raise $250 Million From Share Sale; Top Analyst Bumps Up PT More recent articles from Smarter Analyst: * 3 Under-The-Radar Cannabis Stocks Ready to Bounce * AstraZeneca Seeks To Make 2 Billion Covid-19 Vaccine Doses With New Supply Deals * Ebay Lifts Quarterly Sales and Profit Forecast; Shares Jump To All-Time High * 3 “Strong Buy” Penny Stocks That Could See Outsized Returns
Moderna prodded a sell-off Wednesday among biotechs as investors digested a volunteer's account of systemic side effects tied to the company's experimental coronavirus vaccine.
After acquiring a Czech company, the clinical-stage biotech will be able to churn out more than 1 billion doses of its SARS-CoV-2 vaccine candidate next year -- if it works.