Novavax (NVAX) has experienced many ups and downs in recent years. This has largely been the product of exuberance about its adult RSV vaccine trial, which ended in failure and sent shares into penny stock territory. Since then, the company has been rebuilding with a focus on its second shot at a blockbuster RSV vaccine, this time in a Phase 3 maternal vaccine study. The market has also become enamored of a candidate deeper in the pipeline, NanoFlu, which has shown superior immunogenicity to currently available flu vaccines in both animal models and preliminary human testing. These prospects have helped to buoy Novavax of late, with shares holding steady even after a stock offering announced on April 11th.
On May 9th, Novavax reported earnings for Q1 2018. The financial results held little in the way of surprises, with revenue beating analyst estimates slightly and earnings missing by a cent a share. The immediate market reaction was slightly negative, with shares falling 1.8% in the wake of the announcement, but that is a rather minor movement for a stock that still trades under $2 per share. Closing at $1.69 May 22nd, shares are down just over 1% from the day earnings were announced.
