NVAX DEADLINE: Kessler Topaz Meltzer & Check, LLP Reminds Investors of Novavax, Inc. of Deadline in Securities Fraud Class Action Lawsuit

RADNOR, Pa .– (BUSINESS WIRE) – Law firm Kessler Topaz Meltzer & Check, LLP has announced that a securities class action lawsuit has been filed against Novavax, Inc. (“Novavax”) (NASDAQ: NVAX). The lawsuit charges Novavax with violations of US securities laws, including omissions and fraudulent misrepresentations regarding the company’s business, operations and prospects. As a result of Novavax’s materially misleading statements, Novavax investors have suffered significant losses.

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CLOSING OF THE APPLICANT: January 11, 2022

COURSE PERIOD: March 2, 2021 to October 19, 2021

CONTACT A LAWYER TO DISCUSS YOUR RIGHTS:

James Maro, Esq. (484) 270-1453 or toll free (844) 887-9500 or email at [email protected]

DISCLOSED MALFUNCTION BY NOVAVAX

Novavax is a biotechnology company developing vaccines against serious infectious diseases, including NVX-CoV2373, a vaccine developed against COVID-19. Prior to March 2021, Novavax announced its plan to finalize its Emergency Use Authorization (“EUA”) applications for NVX-CoV2373 with the US Food and Drug Administration (“FDA”) in the second quarter of 2021.

On March 2, 2021, Novavax released a press release stating that the company has potential to file EUAs in the second quarter of 2021 and that sales plans for NVX-CoV2373 and agreements for approximately 200 million doses of NVX-CoV2373 have been completed and secured . Then, on May 10, 2021, the Washington Post reported that Novavax’s EEA filing “was delayed until June at the earliest due to manufacturing issues,” according to four people recently informed of the company’s plans. Later that day, Novavax participated in a call with investors to discuss financial results for the first quarter of 2021 and confirmed that it was unlikely to increase EUA for NVX-CoV2373 in the US until July 2021 (third quarter of 2021) at the earliest apply for. Following this news, Novavax stock price fell $ 15.50 per share, or 8.81%, to close at $ 160.50 per share on May 10, 2021.

Then, on August 5, 2021, Novavax announced that it “[e]expect[s] submit for [EUA] to the [FDA for NVX-CoV2373] in the fourth quarter of 2021[,]”Instead of the third quarter of 2021. Following that news, Novavax’s share price fell $ 46.31 per share, or 19.61%, to close at $ 189.89 per share on August 6, 2021.

Finally, on October 19, 2021, Politico published an article entitled “‘You are in a hurry to process’: The suffering of vaccine manufacturers is hampering the global vaccination campaign”. In the article, Politico pointed out that Novavax faces “significant hurdles to prove that it can produce a shot that meets regulatory quality standards” with respect to the NVX-CoV2373 vaccine and that Novavax will need until the end of 2022 could be issued and received regulatory approvals and permits to complete its manufacture. Following this news, Novavax stock price fell $ 23.69 per share, or 14.76%, to close at $ 136.86 per share on October 20, 2021.

WHAT CAN I DO?

Novavax investors can no later than January 11, 2022, attempt to be appointed as lead class representative by Kessler Topaz Meltzer & Check, LLP, or other legal counsel, or may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages Novavax investors who have suffered significant losses to contact the company directly for more information.

CLICK HERE TO SIGN UP FOR THE CASE

Who can be a lead plaintiff?

A lead plaintiff is a representative party who acts on behalf of each of the class plaintiffs in the conduct of the dispute. The main plaintiff is usually the investor or small group of investors who have the greatest financial interest and who are also appropriate and typical of the proposed class of investors. The lead plaintiff selects an attorney to represent the lead plaintiff and the group, and those attorneys, if approved by the court, are lead or class plaintiffs. Your ability to participate in a recovery will not be affected by whether or not you wish to be the lead plaintiff.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP

Kessler Topaz Meltzer & Check, LLP pursues class action lawsuits in state and federal courts across the country and worldwide. The company has earned a worldwide reputation for excellence and reclaimed millions of dollars for victims of corporate fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by companies and trustees. Ultimately, we succeeded if the bad guys pay and you get your wealth back. The complaint in this lawsuit was not filed by Kessler Topaz Meltzer & Check, LLP. For more information on Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.

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