Novavax Inc. (NVAX) saw its shares soar 5.18% in pre-market trading on Wednesday, driven by growing concerns over the spread of respiratory illnesses like COVID-19, influenza, and bird flu across the United States.
The rally in vaccine stocks like Novavax was fueled by reports of a significant two-week spike in positive COVID-19 tests, according to data from the Centers for Disease Control and Prevention (CDC). Additionally, the first U.S. death from the H5N1 bird flu strain was confirmed, further exacerbating fears of potential outbreaks and increasing demand for preventive measures.
As a leading vaccine developer, Novavax is well-positioned to capitalize on this heightened demand. The company is actively working on experimental vaccines targeting pandemic influenza, including the avian H5N1 strain. Moreover, Novavax's COVID-19 vaccine, along with offerings from competitors like Moderna and BioNTech, could see a resurgence in sales if the recent surge in cases persists.
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