Returns as of 03/07/2022
Returns as of 03/07/2022
Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services.
You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More
For more crisp and insightful business and economic news, subscribe to The Daily Upside newsletter. It’s completely free and we guarantee you’ll learn something new every day.
Slow and steady wins the race, right? Well, not when it comes to a finite pandemic.
Nearly fifteen months after the first coronavirus vaccine gained emergency use authorization by the US FDA (and 555 million jabs in American arms later), Maryland-based Novavax is one step closer to bringing its once-promising COVID jab to market.
It’s been a long and winding road to approval for Novax, beginning with a $1.6 billion contract from the government in July 2020 to develop and deliver 100 million doses of its vaccine candidate. But the company fell behind the more experienced and cash-rich competitors and struggled to prove it could reliably produce its doses on a mass scale, Novavax Chief Medical Officer Filip Dubovsky told The Wall Street Journal. Initially, the company’s convoluted production process involved shipping components to and from the Serum Institute of India.
Novavax finally submitted a request for authorization in late January, after a large Phase 3 trial showed 90% protection against symptomatic infection and 100% protection against severe illness, and a final agency decision is getting closer, according to The Journal. Unlike Pfizer and Moderna’s innovative use of mRNA vaccines, Novavax employed the more traditional inoculation technology that’s been used to vaccinate babies for diseases like hepatitis B for decades. If nothing else, the latecomers are adding another option to the vaccine menu:
Lucky Number Four: Roughly 75% of American adults are fully vaccinated, according to the CDC, while a Kaiser Family Foundation poll in February found 19% of adults saying they would “definitely not” get the jab. Perhaps Novavax can score on the 4% who said they still want to “wait and see.”
Invest better with the Motley Fool. Get stock recommendations, portfolio guidance, and more from the Motley Fool’s premium services.
Making the world smarter, happier, and richer.
Market data powered by Xignite.