Novavax, Inc. is one of 11 cheap biotech stocks recommended by hedge funds. Novavax, Inc. specializes in vaccines, with its COVID-19 vaccine, Nuvaxovid™, approved for adults 65+ and high-risk individuals in the U.S. The company recently received FDA approval for Nuvaxovid’s Biologics License Application, triggering a $175 million milestone payment from Sanofi.

Novavax, Inc. is expanding its pipeline beyond COVID-19 with COVID-19-influenza combination vaccines and a standalone influenza vaccine in Phase 3. The company’s H5N1 avian flu candidate also showed promising preclinical results, boosting investor confidence. Financially, Novavax, Inc. reported an unexpected net income of $107 million in Q2 2025, supported by milestone payments and cost reductions.

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Read more at Yahoo Finance: Novavax, Inc. (NVAX) Wins FDA Approval for Nuvaxovid BLA