Novavax is on its way to becoming a household name similar to Moderna Inc., another vaccine developer that has rallied since March but has yet to have a product reach the market.
Recent $1.6 billion funding from the U.S. government has bolstered Novavax’s credibility despite some concern over its use of industry ties to get that backing.The need for a vaccine is clear, with Covid-19 cases in the U.S.
reaching beyond 4 million and the virus on the rise across the Sunbelt. There are roughly 25 vaccines in human testing with more than 140 others in earlier stages of development, according to the World Health Organization.The market has responded positively to some of the first results in people from Moderna, as well as Pfizer Inc.