What: SharesofNovavaxa clinical-stage biopharmaceutical company focused on creating vaccines for infectious diseases, jumped more nearly 10% at one point in early afternoon trading today.
So what:Two news items appear to be the reason that stock is rising. First off, Novavax announced that it will giving several presentations at the upcoming RSV Vaccines for the World conference, which begins tomorrow in La Jolla, California. The company will be giving presentations as well as showing posters which highlight its clinical work related to its RSV vaccine research.
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Second, Novavax's CFO is scheduled to present at the at theStifel 2015 Healthcare Conference at 4:30 today.
The combination of presentations appears to be attracting attention to Novavax's stock, which is why shares appear to be moving higher today.
Now what: Novavax'sshares have certainly been a basket-case this year, but long-term investors who have held on since the start of the year are currently sitting on a market-thumping gains. Given that the company recently started its first phase 3 clinical trial of its RSV vaccine, the long-term story appears to be intact.
Of course, Novavax is far from the only company attempting to create a RSV vaccine, and it may eventually be find itself competing with pharma giant Merck . Merck signed an agreement with privately-heldNanoBio last year, and the two are developing a RSV vaccine that is designed to be delivered intra-nasally. The deal gave Merck exclusive rights to the drug, and if the two companies make the vaccine work, it could represent a serious threat down the road to Novavax. Still, given that Novavax has already started phase 3 trials, it is still the lead dog in this race.
While these presentations appear to have the market feeling good about Novavax's stock today I don't think they alter this story one way or the other, so if you were bullish or bearish on Novavax before today's move I see little reason to change your opinion.
The article Why Novavax Inc Is Moving Higher Today originally appeared on Fool.com.
Brian Feroldi has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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