Why Novavax Stock More Than Doubled Today
Novavax(NVAX) The Motley Fool·2024-05-11 01:08
A cloud of doubt hanging over the company just gave way to some sunshine.Shares of Novavax (NVAX 96.20%) are up 12% as of midday Friday following the release of the drugmaker's first-quarter results. It's not the report, however, driving the bulk of today's oversize gain -- it's the announcement made in conjunction with it.The company is partnering with fellow pharmaceutical company Sanofi (SNY 0.90%) to market Novavax's COVID vaccine. The deal also opens the door to the development of a flu vaccine based o ...