Novavax Stock Doubles on $1.2B Sanofi Deal for COVID-19, Flu Vaccines
Novavax(NVAX) Investopedia·2024-05-10 22:45
Key TakeawaysNovavax shares more than doubled in intraday trading Friday as it announced a $1.2 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 to ...