So now, as we await data from Novavax's coronavirus vaccine trial, we may wonder if the shares can continue to move higher.
Operation Warp Speed, the White House's effort to bring a vaccine to market by January, awarded Novavax $1.6 billion in funding from the Department of Health and Human Services to advance its coronavirus vaccine.
As for its coronavirus program, in May, Novavax acquired Praha Vaccines in Czech Republic to produce more than 1 billion doses of vaccine as of next year.
Earlier this year, Novavax reported that its investigational flu vaccine candidate, NanoFlu, met all primary endpoints in a phase 3 trial.
Aggressive investors with risk tolerance may consider taking a position in Novavax, but others might be better off opting for a safer COVID-19 vaccine bet or a diversified basket of the stocks involved in the coronavirus vaccine race.