Novavax: At It Again
With Novavax (NVAX) , the company is always a few days away from issuing more stock and usually at not very opportune times. The small biotech just made such a move again. On December 31, Novavax filed to sell $100 million of shares at a 2% commission. As usual, the move made no sense with a cash balance that has to be in excess of $100 million and knowledge that the company was about to release positive Phase 2 data on NanoFlu.