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Fly News Breaks for April 17, 2018
NVAX
Apr 17, 2018 | 05:19 EDT
Piper Jaffray analyst Edward Tenthoff lowered his price target for Novavax to $2 to reflect dilution from the recent capital raise. The analyst projects the company now has enough cash to fund operations through important data readouts in early 2019. Novavax has made good progress advancing its late-stage next-gen vaccine pipeline, Tenthoff tells investors in a research note. He sees the primary driver for the stock being the Phase III Prepare data on Novavax' RSV-F vaccine to prevent infection in infants expected in early 2019. The analyst keeps a Neutral rating on the shares.