Anything new its been at least eight months anything new going on with you . How is life, is it a little busier than before, any change whatsoever we need to know about . Less sleep, but, i mean busier. Not boozier busier i think all our lives have been boozier. But im so happy for you it must be great i told you that all along. It is the greatest thing i dont know if people know what were talking about, but how old are the babies seven months old. That is still hard. A boy and girl. Still hard. Wow still tough and you are in it deep. All right. But we digress yeah, they are upstairs crying you look like youre far away i am hoping that they will crawl into a shot at some point. But ive seen pictures and they are so cute. We could have some Photo Bombing going on later in the program. Maybe later lets show everybody u. S. Equity futures at this hour, we do have some red across the board. It looks like the dow futures would be off a little over 1 right now. Similar story well, nasdaq off a little less and the s p 500 off as well. Lets show you treasury yields this morning before we get started, you are looking at the ten year note right now at 0. 673. And we have breaking news we want to get to novavax and meg tirrell has that news. And the u. S. Government has awarded novavax 1. 6 billion to support the scale up and manufacturing of their covid19 vaccine. And this is the largest award that operation warp speed has made so far. They gave 1. 2 billion for astrazeneca. And so this will take their vaccine through phase three trials which they say should include 30,000 people beginning in the fall if all goes well with earlier studies and this will help them establish large scale manufacturing and including production of 100 million doses starting in late 2020. And this companys phase onetwo trials began in may in australia and they expect to have the results by thes e end of july ad they will begin phase two after that and you see the awards astrazeneca is the largest so far. And this is a huge award for novavax which is a smaller company. So a pretty g. Bbig move here f the company and well talk with the ceo next hour. Back over to you what we call at scale, and we can talk but what is your sense at scale for how this would work in. For how much manufacturing they could do 1234. How much manufacturing and then the time line to get it to really at scale as they say. 123 how much manufacturing and then the time line to get it to really at scale as they say. 234. How much manufacturing and then the time line to get it to really at scale as they say. 34. How much manufacturing and then the time line to get it to really at scale as they say. 4. How much manufacturing and then the time line to get it to really at scale as they say. How much manufacturing and then the time line to get it to really at scale as they say. What they have detailed what they aim to do is at least get 100 million doses by the end of the year beyond that, they would be increasing but we dont know exactly what they would be able to do but they are not the only ones getting this support so the u. S. Government is kind of could be beling together different awards to hit the xwolg. But it requires all of the vaccines to work and history suggests that wont be the case. And interesting so well have the ceo on today and im quickly looking to see what were talking about here. And this would it is based on spike protein, an and a antigen what everyone is using but they use a stretch of the i guess theeucleic acids and a little different approach. And it is good that we have all these different approaches and it is good. And it uses a protein that delivers the spike protein which is a familiar technology in terms of vaccines. So Scott Gottlieb has talked about the u. S. Government needing to support technologies that have been proven in addition to all of the new mrna and dna technologies and it looks like it is for cell based immunity as well. So well talk to Scott Gottlieb in a second. And then i guess we can talk to their ceo. So that is going for us which is nice thank you. Melissa, do you want to talk to meg or are you moving on you know, i was going to ask meg if navavax ever had a commercial r0 duct product to m. There is optimism about the stock and some smaller players have never had the experience of actually bringing a product to market yeah, novavax is unproven they have been trying for decades to bring vaccines to market and so far have not succeeded. And so this is a huge move for this company so you can see the stock is up almost 30 on this award and this vote of confidence in their approach, they of course where not the only ones who havent brought a vaccine to market. Moderna the frontrunner also has not brought a vaccine to market. Moderna is a Younger Company whereas novavax has been trying for a long time. And they have seen some failures a 4 billion market cap versus moderna 23 billion so that is interesting something they might talk about on fast money which is ashow at 5 00 p. M. Phenomenal show on every day at 5 00 p. M joe, i miss you im sucking up a little bit to you i know how to work it, melissa i dont know what you want from me, if you want a kidney or blood or something, but okay, that is fine well find out thanks, meg. Just your love. Lets move on. Hong kong releasing more details about how it will enforce the new security law it says that authorities will have the power to enter and search places for evidence and can restrict people under investigation from leaving hong kong the government can confiscate any proceeds related to any offense endangering National Security and tiktok says that it will exit the Hong Kong Market within days, and this is after other if he can technologies suspended their requests the company has previously said that it does not store data in china. And tiktok news, secretary of state mike pompeo is looking at banning tiktok in other apps and americans should only Download Data if you want it in the hands of the chinese and a pin Stock Offering for quite some time. A lot of speculation about when it might happen. And it was founded back in 2004 and been among the most highly valued startups reaching a 20 w billion valuevaluation and we spoke to the ceo in january. Weve told the company we will ipo and we are preparing internally an ichlts pipo and i that well do well in that context. The way we look at it, it is a bull market for monopolistic companies. And if you look at it that way, you dont finance growth with the sweet vapors, you focus on growth with high quality revenue. And weve told people that the ipo will happen and you will see the results. So with the backdrop of a pandemic, palantir which people expected to go public much earlier, a lot of focus will be on that company publicly, and of course its role supporting the u. S. Governments and other governments around the world and he also has a libertarian streak and oftentimesvacative ss sxwle hasnt chan he hasnt changed a lot in ten years when we spoke to him back in january. Heist been its been a while, hasnt it it does seem like a while ago. Do you remember that we were actually at functions shoulder to shoulder with like hundreds of people . Yeah. In the same room. I dont know what we were thinking and you didnt bacterialize your hands. Yeah, there were no masks do we know about joe knows i always like the elbow bump yeah, youve always been that way. And what about dach or courvos . Is it like far swrarharvard . They will do some in person, some online. And i imagine just like harvard which well talk about, but i think that if they do it, there will be even testing perhaps there. And they will also charge full tuition and davos will charge full tuition too. Exactly i already had one of those big checks that i just paid. And i dont even know what will happen down there at penn and so were good, whatever does lap, be happen well see if the check clears, but we have no idea what it will look like. So if it is just online, i already paid anyway, i like this story. I think this is great. Patrick mahomes has reportedly agreed to a ten Year Contract extension worth more than 400 million. Espn says there is a no trade clause and kansas city would have to guarantee his salary a year out if it picks up the garn guarantees, the value could reach half a billion making it the biggest contract in sports history. The super bowl mvp is 24 years old and has endorsement deals with oakley, state farm, adidas and proctor and gamble and that was my last bit of glory when i had money on the chiefs on draft kings. Havent been able to bet since but i was thinking this guy is not that great until about eight minutes to go in the Fourth Quarter and then we kind of watched what guys like him do when they need to do it. And i ended up winning some good money. Not a lot, but for me, it was like 100 or something so he is worth it i think. Were you watching . You saw that last Fourth Quarter, right he didnt look so great in the first two or three the first happen didnt really look so great. And i had a lot of my friends were like laughing about my bet but as it turned out, that is why you peg a winner i have a completely separate question you have a business question. No, but there is a betting line i dont know, maybe you can bet on the united states, you can definitely bet on the uk, if the nba season you know they are supposed to get gown down to florida, if they actually move forward. Are you betting for or against i looked at this as more of you know, in i think investments, you invest for the long term. And this is a ten year nfl deal. And it wasnt right here is the nfl going to play in orlando, it was they are willing to pony up with the hope that ten years forward were still going to be having professional sports well get through this the nba, unii dont know mlb im trying to make in fasome money. Fast money, exactly 5 00 p. M. No wonder you get inso early. It is worth it you will have a ratings spike tonight that you wont believe all right. 6 15 already how does that happen coming up, stocks under pressure this morning indicated down 273 points we gained 460 yesterday. But that is a triple digit number that looks kind of ugly in the lower right hand screen and up next, an update from Scott Gottlieb on the latest covid numbers. And rollbacks in some states well talk maybe novavax and maybe a piece yesterday in the journal about herd immunitimmuny this selenite grey is so pretty isnt it . Wow. Jim could you pop the hood for us . There she is. Turbocharged, right . Yes it is. Jim, could you uh kick the tires . Oh yes. Can you change the color inside the car . Oh sure. How about blue . Thats more cyan but. Jump in the back seat, jim. Act like my kids. How much longer . Exactly how they sound. Its got massaging seats too, right . Oh yeahhhhh. Oh yeahhhhh. Visit the mercedesbenz summer event or shop online at participating dealers. Get 0 apr financing up to 36 months on select new and certified preowned models. You say that customers maklets talk data. S. Only Xfinity Mobile lets you switch up your wireless data whenever. I accept 5g everybodys talking about it. How do i get it . Everyone gets 5g with our new data options at no extra cost. Thats good. Next item corner offices for everyone. Just have to make more corners in this building. Chad . Your wireless your rules. Only with Xfinity Mobile. Now thats simple easy awesome. Switch and save up to 400 a year on your wireless bill. Plus get 200 off a new Samsung Galaxy s20 ultra. Well ccome back. Australia is resuming lockdown in some areas. The city of melbourne and victoria will reinstate stayathome restrictions for six weeks. The state reported 191 new cases overnight, that is its largest spike since the pandemic began joe. And meantime miami is the latest u. S. City to reverse course following a ten folds increase in covid19 cases miamidade mayor jimenez signed an executive order shutting down bar, restaurants, gyms and Short Term Rentals and joining us now, dr. Scott gottlieb, he is on the boards of pfizer and novavax just got a large check from the federal government for its vaccine we tried to figure it out, this is Older Technology where they actually create something that looks like the spike protein and inject that and get an anti genyk response and i guess cell based immunity too is this a possible candidate we have to do as many as we can i guess. Naerts. And it thats right. And it is a good bets. The other bets are two protein vaccines that are furthest along are the a know if i asanofi andx and these boost the immune response there is some belief that maybe protein alone isnt potent enough so they boost it but this is a good bet on a differentiated platform. They are a little behind the other vaccines this is probably more of a 2021 event. And even this morning they said that the supply would be available by end of the year so i dont know that the novavax vaccine would be available this year but good that were placing bets on these kind of platforms. And i was trying to figure out, it would be a large protein. It must be wrapped in something . They said something about nano particle technology. So it must be difficult to get it to the site of action, right . Well, the body will have the immune response to the protein itself this is a Novel Technology that they are using to manufacture the protein so they can do it at scale. And i have to ask you this and i hope you have seen this article. But you have talked many times about the studies of how many people actually have antibodies. And the latest thing that ive seen is that there are certain people that exhibit no symptoms that may not be their response to the virus may not be from the antibodies, it might be from tcells because they have memory from previous coronaviruses that they have had that werent covid and that is why we have no idea why some people handle this virus so well and that is something that we cant measure. And so the point of this article is in the wall street journal yesterday, that we may have no idea what the actual herd immunity levels are if you think of cell mediated immunity that people might have. It could be much higher than whatever you say 10, 12, 15 and it could explain certain phenomena in wuhan why it didnt spread more are rapidly because people had cell wastys based im. And it does seem that there is cross immunity from other coronaviruses. But what percentage of people have that, were not sure. But if doesnt seem to that be high when you case studies if you look at the cruise ships where a lot of people became infected, if there were people with cross immunity, you probably wouldnt have seen that rate of infection. It is possible that the people in those environments were a selected group thathasnt been exposed to the prior coronavirus. So maybe there was a coronavirus that circulated that only a serb age cohort in the population had been about opposed to. And that is what happened with h1n1 older people didnt gets a sick because they had been exposed to a prior strain years ago and they had cross immunity. It could be very young people. Some of the speculation why kids arent getting as sick is because they were exposed to a coronavirus recently that may have are supplied cross immunity we really dont know but there does seem to be . Level of cross immunity from prior exposure to certain coronaviruses that some people have and doctor, i wanted to pivot to schools and testing you saw the news yesterday about harvard and their plans which include testing i think every three days we talked to the president of cornell earlier this week or last week i should say they plan to test every seven days at a cost of somewhere between 3 million and 5 million. And when we began this conversation in march about what should than in the fall, you talked about regular testing all the time my question is, do you think that you could implement a testing regime for k through 12 especially in hard hit places where the level of the pandemic is continuing to get people back to school . Because that is such a critical issue. I think you could some states are talking about targeting Elementary Schools the universities have more Resources Available to them. Some of the universities are using their own labs as Research Tools to do this kind of testing. And so well see some Elementary Schools do this, it must be wealthiier districts that have the resources, but i think that we will see some Public Schools deploying testing as another tool to try to keep the virus out of that setting. Doctor, gist wa just wanted c to the race to the vaccine novavax shares are climbing higher, now up by about 38 on the optimism surrounding a vaccine and im wondering, we take a look at the stock reactions all the time where are you see a huge jump in the stock. But from a science and process perspective, should investor, should the public be more september c sceptical of companies who have never brought a product to market commercially . Im on the board of pfizer and that is a big company that has brought vaccines to the market before. And so my belief is there is a lot of complexity of developing a vaccine. And it is in the scale up. Taking the construct and making it in a way that it could be scaled up that you can produce the hundreds of millions of doses that you need. And there is not Many Companies that do that and do it well. Sanofi does it, pfizer, merck, j j. And so i think that you need the Big Companies in the game. Because so much of the complexity here is doing the large scale manufacturing. And a lot of times the Smaller Companies that have very novel platforms end up partnering with Big Companies. That is what happened with the ebola vaccine. And they partnered it with merck. So there is a lot of complexity in the later stages. Doesnt mean a Small Company cant do it and there is enough capital in the system to support these companies, but i think that people dont fully appreciate how much of the difficulty is in doing that large scale manufacturing. And taking something taking a small batch and converting is it into something that can be manufactured at huge scale and you look at a company like reagain ron that controls its process end to end, they now how to scale up manufacturing. But a lot o