Novavax gets another boost with $1.6B contract from Operation Warp Speed

While Novavax has yet to bring a vaccine to market, the company remains on a meteoric trajectory most recently marked by a $1.6 billion contract with BARDA and the DoD for its COVID-19 vaccine. The deal is Operation Warp Speed’s second publicly disclosed and largest commitment to a vaccine developer.

Shares of Novavax gained $25.12 (32%) to $104.56 on Tuesday, pushing its market cap above $6 billion. Its share price is 18x greater than its close of $5.74 on Jan. 17, the last day of trading before the company disclosed it was working on a COVID-19 vaccine...