Novavax Stock Doubles on $1.2B Sanofi Deal for COVID-19, Flu Vaccines
NVAXNovavax(NVAX) Investopedia·2024-05-10 22:45

Key Takeaways Novavax shares more than doubled in intraday trading Friday as it announced a 1.2billiondealtolicenseitsvaccinetechnologytoSanofi.Novavaxwillco−commercializeitsCOVID−19vaccinewiththeFrenchdrugmaker,alongwithdevelopingotherslikeacombinationCOVID−19andfluvaccine.Thevaccinemakeralsoannouncedfirst−quarterresultsthatincludedawider−than−expectednetloss.Novavax(NVAX)sharesmorethandoubledinintradaytradingFridayafterannouncinga1.2 billion deal to license its vaccine technology to Sanofi. Novavax will co-commercialize its COVID-19 vaccine with the French drugmaker, along with developing others like a combination COVID-19 and flu vaccine. The vaccine maker also announced first-quarter results that included a wider-than-expected net loss. Novavax (NVAX) shares more than doubled in intraday trading Friday after announcing a 1.2 billion deal ...