JM: Earlier in June, Novavax Inc. (NVAX:NASDAQ) announced a $100 million secondary offering of common stock. The underwriters are JPMorgan and Citibank, two global investment banks that currently do not cover the stock from a research standpoint. After speaking with management, the proceeds will be used to fund a standalone trial in the elderly that will accelerate the path to approval for the company's disruptive/novel combination influenza/respiratory syncytial virus (RSV) vaccine. As a result, Novavax now has a potential "seasonal" vaccine strategy for the elderly.