Overlooked Covid-19 Vaccine Runners Up Defended by Wall Street

Don’t give up hope for Novavax Inc. and Inovio Pharmaceuticals Inc., Wall Street analysts said after the two failed to appear on a Trump administration list of Covid-19 vaccine developers picked for Operation Warp Speed.

The pair slid more than 10% on Wednesday following a New York Times report saying that the White House’s list included larger drugmakers such as AstraZeneca PLC, Johnson & Johnson, Merck & Co. and Pfizer Inc., but not the pair of small-caps.

Bloomberg reporting shows that two other, as yet unnamed, companies have also been selected for the U.S. government’s effort. ...