10 Best Biotech Stocks to Buy Under $10

7. Novavax, Inc. (NASDAQ:NVAX)

Number of Hedge Fund Holders: 24 

Share Price: $8.74 

Novavax, Inc. (NASDAQ:NVAX) is a biotechnology company specializing in recombinant protein-based vaccines, using protein nanoparticles and the proprietary Matrix-M adjuvant to elicit strong and broad immune responses. The company focuses on addressing unmet needs in infectious disease prevention, offering alternatives to mRNA vaccines, and advancing innovative vaccine R&D.

In May 2025, Novavax, Inc. (NASDAQ:NVAX) received full FDA approval for Nuvaxovid™, its protein-based COVID-19 vaccine, the only non-mRNA option currently available in the U.S. The initial indication covers adults 65+ and high-risk individuals aged 12–64. Following this milestone, the company transferred U.S. commercial leadership of Nuvaxovid™ to Sanofi, with authorization transfers for the U.S. and EU expected by the end of 2025. The partnership aims to broaden distribution, streamline logistics, and generate milestone payments for the corporation.

The business is advancing late-stage candidates, including a COVID-19–Influenza Combination vaccine and a stand-alone seasonal influenza vaccine. Early Phase 3 data show robust immune responses and improved T-cell activation compared with Fluzone HD. These programs remain unpartnered but are under active discussion with potential collaborators.

The Matrix-M adjuvant enhances immune response while allowing lower antigen doses, reducing manufacturing costs and simplifying distribution, especially in regions with limited cold-chain infrastructure. Novavax, Inc. (NASDAQ:NVAX) is also advancing novel vaccines, including a bird flu candidate in collaboration with public health agencies, positioning the company as a key player in pandemic preparedness.

Full handover to Sanofi in the U.S. and EU is expected in Q4 2025, expanding vaccine reach and production. Ongoing late-stage pipeline development and partnering efforts highlight the firm’s shift from R&D focus to broader commercialization and global distribution, leveraging its unique position as a non-mRNA vaccine provider in Western markets.