MLV Comments On New H5N1 Bird Flu Vaccine

McNicoll, Lewis & Vlak has published a research report on Novavax NVAX after recent evidence showed signs of a new emerging variant of the H5N1 Bird Flu. In the report, MLV writes, "Recent reports of a new emerging variant of pandemic bird flu, H5N1-2.3.2.1, resistant to currently commercially available vaccines effective against the parent H5N1 strain may, in our view, underscore the need for a new H5N1 vaccine that will protect against the emerging strain. The new variant strain is reportedly spreading in China and Southeast Asia. We think these reports have been the key driver of the increase in value of Novavax, Inc. stock." MLV maintains its Buy rating and $9.50 price target on Novavax, which is currently trading at $2.02, +$0.06 yesterday's closing price.