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Novavax (NVAX) Focuses on Diversifying Vaccines Portfolio
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Novavax’s (NVAX - Free Report) first and only marketed product — its COVID-19 vaccine — has been authorized for emergency use in various countries. Though the COVID-19 vaccine has been authorized for use in many markets, including the United States and Europe, most of the population has already been immunized with an approved mRNA-based vaccine.
This resulted in low sales of the vaccine during the peak pandemic era. Also, as the COVID-19 pandemic has almost come to an end, several sections of the population have not opted for booster doses across the world, thereby resulting in almost minimal sales.
Getting an updated version and targeting a broader patient population with its COVID-19 vaccine remains the key focus for NVAX.
Earlier this month, the FDA granted emergency use authorization (“EUA”) to an updated version of Novavax’s protein-based COVID-19 vaccine in individuals aged 12 years and older.
Following the EUA, Novavax’s updated vaccine is the only non-mRNA vaccine option available to people in the United States. Novavax’s updated vaccine has also been included in the recommendations issued by the U.S. Centers for Disease Control and Prevention (“CDC”) last month.
Shares of Novavax have lost 30.2% year to date compared with the industry’s decline of 18.3%.
Image Source: Zacks Investment Research
Given the fact that the rate of COVID-19 infections has declined, the demand for COVID-19 vaccines too is likely to reduce, resulting in lower product sales.
Novavax is developing standalone vaccines for influenza. The company is progressing well with the development of its COVID-19-Influenza Combination (CIC) vaccine. The company is looking to enter into strategic collaborations and/or available financing alternatives to finance the late-stage development of the CIC candidate. If successful, this can lend it an upper hand compared to its rivals.
Novavax faces stiff competition from Pfizer/BioNTech and Moderna, which currently dominate the COVID vaccination space. The majority of the population across the globe has been immunized with vaccines marketed by PFE/BNTX and MRNA. Also, Novavax’s dependence on a single product for revenues is a concern.
Image: Shutterstock
Novavax (NVAX) Focuses on Diversifying Vaccines Portfolio
Novavax’s (NVAX - Free Report) first and only marketed product — its COVID-19 vaccine — has been authorized for emergency use in various countries. Though the COVID-19 vaccine has been authorized for use in many markets, including the United States and Europe, most of the population has already been immunized with an approved mRNA-based vaccine.
This resulted in low sales of the vaccine during the peak pandemic era. Also, as the COVID-19 pandemic has almost come to an end, several sections of the population have not opted for booster doses across the world, thereby resulting in almost minimal sales.
Getting an updated version and targeting a broader patient population with its COVID-19 vaccine remains the key focus for NVAX.
Earlier this month, the FDA granted emergency use authorization (“EUA”) to an updated version of Novavax’s protein-based COVID-19 vaccine in individuals aged 12 years and older.
Following the EUA, Novavax’s updated vaccine is the only non-mRNA vaccine option available to people in the United States. Novavax’s updated vaccine has also been included in the recommendations issued by the U.S. Centers for Disease Control and Prevention (“CDC”) last month.
We note that updated mRNA-based COVID-19 vaccines marketed by Pfizer (PFE - Free Report) /BioNTech (BNTX - Free Report) and Moderna (MRNA - Free Report) were granted approval by the FDA in September 2023.
Shares of Novavax have lost 30.2% year to date compared with the industry’s decline of 18.3%.
Image Source: Zacks Investment Research
Given the fact that the rate of COVID-19 infections has declined, the demand for COVID-19 vaccines too is likely to reduce, resulting in lower product sales.
Novavax is developing standalone vaccines for influenza. The company is progressing well with the development of its COVID-19-Influenza Combination (CIC) vaccine. The company is looking to enter into strategic collaborations and/or available financing alternatives to finance the late-stage development of the CIC candidate. If successful, this can lend it an upper hand compared to its rivals.
Novavax faces stiff competition from Pfizer/BioNTech and Moderna, which currently dominate the COVID vaccination space. The majority of the population across the globe has been immunized with vaccines marketed by PFE/BNTX and MRNA. Also, Novavax’s dependence on a single product for revenues is a concern.
Novavax, Inc. Price and Consensus
Novavax, Inc. price-consensus-chart | Novavax, Inc. Quote
Zacks Rank
Novavax currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.