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Fly News Breaks for May 6, 2019
NVAX
May 6, 2019 | 07:22 EDT
Citi analyst Joel Beatty recommends buying Novavax because he sees a "favorable likelihood" that a regulatory update in the next month or so will reveal that the company can pursue the accelerated approval pathway for its flu vaccine. This would allow for Phase 3 results around January 2020, Beatty tells investors in a research note. The analyst sees ~25% upside / ~50% downside on whether accelerated approval is granted. He lowered his price target for Novavax shares to 95c from 95c from $1.25 and keeps a Buy rating on the shares.
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