Novavax, Inc. (NASDAQ:NVAX) shares gained by 6.64%

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Dallas, Texas 07/03/2013 (Financialstrend) – Novavax, Inc. (NASDAQ:NVAX) recently announced the appointment of Barclay A. “Buck” Phillips to the position of Chief Financial Officer and Senior Vice President of the company, a decision effective from June 24, 2013. Mr. Philips took over from then on the responsibilities of managing the treasury, along with the financial and communications-related functions of the company. Prior to joining Novavax, Inc. (NASDAQ:NVAX) in the present position, Mr. Phillips was serving effectively in the same position at Micromet Inc. which was earlier acquired by Amgen Inc in 2012.

Shares of Novavax, Inc. (NASDAQ:NVAX) closed at $2.25 on Tuesday, recording a gain of 6.64 percent. The share price ranged between $2.09 and $2.30 during the day, with a 52-week high of $2.77 and a 52-week low of $1.52 per share.

Novavax, Inc. (NASDAQ:NVAX) recorded very high trading volumes of 3.90 million shares on Tuesday, whereas the average trading volume stands at 1.45 million shares per day. Novavax, Inc. (NASDAQ:NVAX) currently has 152.46 million shares outstanding in the market with a market cap of $343.04 million and an institutional ownership of 45 percent of the total share capital.

Novavax, Inc. (NASDAQ:NVAX) is a biopharmaceutical company which develops recombinant vaccines. Novavax, Inc.’s (NASDAQ:NVAX) technology platform is based on virus-like particles (VLPs), a recombinant vaccine technology. Novavax, Inc.’s (NASDAQ:NVAX) vaccines have engineered three-dimensional nanostructures that contain immunologically important recombinant proteins. Novavax, Inc. (NASDAQ:NVAX) has a product pipeline that handles a variety of infectious diseases. Trial candidates include the pandemic influenza (H5N1), the seasonal influenza and the respiratory syncytial virus (RSV). CPL Biologics Private Limited, a joint venture of Novavax, Inc. (NASDAQ:NVAX) focuses on genetically engineered vaccine against rabies.

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