Why Novavax Shares Rose 153.9% in May
Shares of Novavax (NASDAQ: NVAX) soared 153.9% in May, according to data provided by S&P Global Market Intelligence, after the company announced more than $300 million in funding for its coronavirus vaccine program and said it initiated its clinical trial. Novavax said the Coalition for Epidemic Preparedness Innovations (CEPI) will invest as much as $384 million in the project after earlier investing $4 million. The company also said it has enrolled the first participants in the phase 1/2 clinical trial of its coronavirus vaccine.
