When Novavax Inc. received $1.6 billion last year from the federal government to speed up testing and production of a coronavirus vaccine, some observers were incredulous. The small biotechnology firm, based in Gaithersburg, Maryland, was largely unknown and had never successfully brought a product to market.
But now that the company nears completion of its Phase 3 trials for its COVID-19 vaccine, which was found to be nearly 90% effective during clinical testing in the United Kingdom, it is grabbing headlines around the world.