Novavax Receives $4 Million in Funding to Develop a Vaccine for COVID-19

Novavax (NASDAQ:NVAX), a clinical-stage biotechnology company, is currently perceived as one of the leaders in the race to develop a vaccine for COVID-19. The company recently announced it received a grant of $4 million from the Coalition for Epidemic Preparedness Innovations (CEPI) to support its efforts to develop a vaccine for the potentially deadly disease, news that sent Novavax's shares soaring Tuesday.