Novavax hitched its wagon to the coronavirus pandemic. Before most Americans truly grasped the scope of the danger, the small Maryland biotech startup had secured $1.6 billion in U.S. funding for its COVID vaccine. Its moonshot goal: deliver 2 billion shots to the world by mid-2021. Although the U.S. commitment eventually expanded to $1.8 billion, hardly any Novavax shots have found arms due to manufacturing problems, and most of the world has moved on. Novavax stock has plummeted from $290 a share in February 2021 to around $50 recently.
Maryland-based Novavax missed its moonshot but is angling to win over mRNA doubters with its COVID vaccine
May 26, 2022