Novavax Executives Sold $46 Million Worth Of Stocks Amid 2,731% Gains In 2020
US pharmaceutical company Novavax saw its stock hit various highs in 2020 as vaccine trials progressed. According to the research data analyzed and published by Stock Apps, it saw its stock price skyrocket 2,731% in 2020. The massive gains ranked it as the highest performer among coronavirus stocks.
Per Marketwatch data, its share price was $170.10 as of January 29, 2021, up from only $4 in January 2020.
Novavax Vaccine Candidate 89.3% Effective on UK COVID-19 Variant
Novavax received $388 million from the Coalition for Epidemic Preparedness Innovations (CEPI). After that, it got $1.6 billion from Operation Warp Speed (OWS). In total, it got around $2 billion in 2020 for COVID-19 vaccine development. For a company that had started the year with a capitalization of $130 million, that was a huge capital influx.
Capitalizing on the share gains, its executives sold stock worth $46 million in 2020. The CEO sold shares worth $8.7 million, the Chief Commerce Officer $13 million, the head of R&D $13.4 million and the Chief Legal Officer $10.9 million.
On August 4, 2020, Novavax released numbers for phase 1 trials of the vaccine. The next day, its share price soared to a high of $189. At this peak, the stock was up by 3,875% YTD.
On January 28, 2021, it announced that its vaccine was 89.3% effective based on UK phase 3 trials. The company has agreements in place to distribute over 300 million doses of the vaccine upon approval.
These agreements include 1 billion doses for India, 250 million for Japan, 100 million doses for the US, 60 million for the UK, 76 million in Canada, 40 million in Australia and 10.7 million in New Zealand.
The full story, statistics and information can be found here: https://stockapps.com/blog/2021/01/29/novavax-executives-sold-46-million-worth-of-stocks-amid-2731-gains-in-2020/