Wolf Popper LLP Announces Investigation on Behalf of Purchasers of Novavax, Inc. (NVAX) Common Stock

New York, New York--(Newsfile Corp. - October 20, 2021) - Wolf Popper LLP is investigating potential securities fraud claims on behalf of purchasers of Novavax, Inc. (NASDAQ: NVAX) common stock.

Novavax is a clinical-stage drug company that has been developing NVX-CoV2373, its COVID-19 vaccine. On July 7, 2021, Novavax announced it had been selected to participate in Operation Warp Speed and was awarded $1.6 billion by the federal government to complete late-stage clinical development, including a pivotal Phase 3 clinical trial; establish large-scale manufacturing; and deliver 100 million doses of NVX-CoV2373.

After the market closed on October 19, 2021,Politico published a story entitled "'They rushed the process': Vaccine maker's woes hamper global inoculation campaign." According to the story "…the company has consistently run into production problems. The methods it used to test the purity of the vaccine have fallen short of regulators' standards and the company has not been able to prove it can produce a shot that is consistently up to snuff, according to multiple people familiar with Novavax's difficulties." In addition, the story said the FDA generally expects each vaccine batch should reach 90% purity levels but "The company has struggled to attain anywhere close to that, one of the people with direct knowledge of the situation said. Another person familiar with the company's manufacturing process said Novavax has recently shown purity levels hovering around 70 percent." Furthermore, the story said "'They rushed the process,' one of the people with knowledge of the matter said. 'It's hard to make. And they can't make it.'" On this news, NVAX's intraday stock price is down $14.03 per share to $146.52, or a drop of 8.7%.

For more information, Novavax investors with trading losses of over $50,000 should contact Joshua Ruthizer at (212) 451-9668 or at jruthizer@wolfpopper.com.

Wolf Popper has successfully recovered billions of dollars for defrauded investors. Wolf Popper's reputation and expertise have been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. For more information about Wolf Popper, please visit the Firm's website at www.wolfpopper.com.

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Wolf Popper LLP
Joshua Ruthizer
845 Third Avenue
New York, NY 10022
Tel.: (212) 451-9668
Email: jruthizer@wolfpopper.com

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