Novavax’s Production Problems Are Overblown, Says Analyst

Smarter Team-
March 29, 2021, 9:48 PM EDT
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Reports of raw materials shortages causing production delays for Novavax’s (
NVAX) COVID-19 vaccine forced the company to postpone signing a supply contract with the European Union Thursday.
As Reuters reported, the EU was hoping to order 100 million, or even 200 million doses of Novavax’s two-dose vaccine, but now “they are slowing down the process of finishing the contract.” That news certainly spooked investors, sending Novavax shares tumbling.
And yet, B. Riley analyst Mayank Mamtani is unafraid.
Mamtani has spoken with Novavax executives and confirmed that the company’s “EU supply negotiations continue in parallel progression… in order to submit regulatory filing in the U.K. first, shortly followed by EMA to access several countries within the E.U.”

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