The executives of a big US pharma Novavax are taking home big bucks, as the pharmaceutical company continues to reach milestones, expanding its bottom line, according to financial website Marketwatch.
It noted that the company’s share price rose to $170.10 on January 29, 2021, a $4 increase from the $166.1 recorded in January 2020.
With increasing share gains, the company’s executives sold a total of $46 million worth of stock in the previous year.
The pharma’s CEO, Stanley Erck, sold shares worth $8.7 million, the Chief Commercial Officer, John Trizzino, sold shares worth $13 million, the head of R&D sold $13.4 million, while the Chief Legal Officer sold shares worth $10.9 million.
Novavax Gains On the Stock Market
In 2020, Novavax made a 1,770 percent return, making it the best performing coronavirus stock, according to The Motley Fool, a US-based private financial and investing advice company.
It added that the company’s growth was three times what its competitor Moderna recorded in the same year.
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Novavax COVID-19 Vaccine Effectiveness
After announcing figures for its phase 1 trials of its vaccine in August 2020, its share price saw a boom, going as high as $189.
The company’s stock, with its share price, soared to 3,875 percent Year to Date (YTD).
On the effectiveness of its vaccines, it declared on January 28, 2021, that its vaccine was 89.3 percent effective on its phase 3 UK trials.
It entered agreements with countries for the distribution of more than 300 million COVID-19 vaccine doses.
Canada made an order of 75 million doses, 60 million doses for the UK, 51 million doses for Australia, 10.7 million doses for New Zealand, and 100 million doses for the US.
