The dramatic selloff in Novavax (NVAX +27.8%), shares had lost 88% of their value since early February before today's action, appears to have reached an attractive level for bargain hunters. The stock is up on more than a 4x surge in volume on no particular news other than a recent 1:20 reverse stock split.
Shares plummeted in February after RSV vaccine candidate ResVax failed to beat placebo in a late-stage study.
On the working capital front, at the end of March it had ~$100M in quick assets while operations consumed ~$51M in Q1.
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