Novavax pops on $1.6 billion funding for Covid-19 vaccine

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<a href="https://admiralmarkets.com/analytics/traders-blog/novavax-operation-warp-speed"><img data-resize="auto" data-resize="auto" data-resize="auto" data-src="https://fxmedia.s3.amazonaws.com/articles/remote/d46e586945075c6a210e60c21b19810d.jpeg"></a>
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The race to find a <a href="https://admiralmarkets.com/analytics/traders-blog/coronavirus-vaccine-stocks">coronavirus vaccine</a> continues to heat up with current leader Novavax Inc surging more than 30% in Tuesday's session with a higher open also set for Wednesday. News that Novavax Inc (<a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/_nvax">NVAX</a>) received $1.6 billion in funding from the US government has kept the company's stock price high on investors' watchlists.
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The payout is the largest hand out from the US government's Operation Warp Speed programme whose goal is to deliver 300 million doses of a safe, effective vaccine for Covid-19 by January 2021.
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Novavax Inc's share price is already up 2,527% in 2020, starting out the year as a penny stock around $1.80 per share and now trading around the $100 per share level. The extra $1.6 billion in funding will be spent on testing and production for a potential Covid-19 vaccine with a plan to have 100,000 approved doses for delivery in early 2021.
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Other companies are also in the race towards a coronavirus vaccine with extra help from Operation Warp Speed:
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<li>$456 million in funds for Johnson &amp; Johnson (<a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/_jnj">JNJ</a>) which has Phase 1 clinical trials starting this summer. </li>
<li>$483 million for Moderna's (<a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/_mrna">MRNA</a>) vaccine candidate which started Phase 1 trials in March. </li>
<li>$450 million for Regeneron Pharmaceuticals (<a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/_regn">REGN</a>) who is working on an anti-viral treatment. </li>
<li>$1.2 billion for AstraZeneca's (<a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/_azn">AZN</a>) vaccine candidate developed in conjunction with the University of Oxford. Phase 3 clinical trials are beginning this summer. </li>
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Below is the long-term, monthly price chart of Novavax Inc's share price, available via Admiral Markets on the MetaTrader 5 trading platform.
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<img data-resize="auto" src="https://fxmedia.s3.amazonaws.com/articles/remote/d1395df9615717f7773d7335c93a3fb1.png" />
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<em>Source: Admiral Markets MetaTrader 5, #NVAX, Monthly – Data range: from 1 December 1995 to 8 July 2020. Please note: Past performance is not a reliable indicator of future results.</em>
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