Share Price Of Swine Flu Virus Maker Plunges

After trading at a 52-week high of US$7.79 on Tuesday (September 1), Novavax Inc.’s shares relapsed yesterday, plunging to to 10.68% by the close of trading. Shares of the vaccine-maker took a hit after Oppenheimer Holdings Inc. cut its rating on Novavax stock to “perform” from “outperform”.

Prior to this unpleasant report, Novavax had been receiving positive attention for the successful mid-stage testing of its seasonal vaccine which uses virus-like particles to induce immune responses against three strains of viruses, including the H1N1 or “Swine Flu” virus.