Since the capability to get to market in 3 months exists, I expect FDA will announce in June. They may also announce in March. If nothing changes between March and June, NVAX dodges a bullet.

 

If different strains are announced in June, NVAX can come to the market 3 months late with the June strains or try to compete contemporaneously with March strains, both of which put NVAX at a huge competitive disadvantage.