Back in early April Novavax's stock was trading for a meager 52 cents a share. Before the bell this morning it hit $6.01. And CEO Rahul Singhvi clearly believes that the vaccine-maker, which is advancing new virus-like particle technology for influenza, has a ways to go before its shares hit their limit.
In a discussion with Reuters, Singhvi said that the company is in talks with a half dozen or more countries around the globe who are interested in adopting Novavax's virus-like particle technology, which promises to greatly reduce the amount of time and money that goes into developing and manufacturing flu vaccines.
"A lot of these countries are finding out it is better to have control of vaccine supply within their own borders," he told the wire service.
Health experts estimate that as many as two billion people will become infected with swine flu. And with multinational producers maxing out on their production capacity, Novavax sees an opportunity to help fill the yawning gap. Under normal circumstances, Novavax would be diligently focused on a 2012 approval for a new flu vaccine. But these aren't normal circumstances. And worried governments with vulnerable populations may well prove willing to adopt the technology now rather than wait for the U.S. regulatory system to make a final judgment.
- read the story from Reuters