"Novavax soars 64% as unknown virus spreads through China Shares of antibiotics developer Novavax (NVAX) are soaring amid reports that a new respiratory virus has infected more than 200 people in China." But antibiotics have no effect on viruses...?
Where did you catch that news blurb from? Here's what MStar says... "Novavax, Inc. is a late-stage biotechnology company, which focuses on the discovery, development and commercialization of vaccines to prevent infectious diseases. It produces vaccine candidates to respond to both known and emerging disease threats by using the proprietary recombinant nanoparticle vaccine technology. Its vaccine candidates include ResVax and NanoFlu. It also develops immune stimulating saponin-based adjuvants through its wholly owned Swedish subsidiary, Novavax AB. The company was founded in 1987 and is headquartered in Gaithersburg, MD." Here's what their own website says... "Novavax, Inc. is a clinical-stage biotechnology company committed to delivering novel products to prevent a broad range of infectious diseases. Using innovative proprietary recombinant nanoparticle vaccine technology, we produce vaccine candidates to efficiently and effectively respond to both known and emerging disease threats. More..."
I owned it at 4, closed half my position. Playing on house money now. Wish the move wasn't based on this single event... they do have a pretty large pipeline tho.