Novavax stock jumps 50% as Sanofi deal kicks off turning point for struggling vaccine maker
NVAXNovavax(NVAX) CNBC·2024-05-14 01:37

Shares of Novavax jumped as much as 50% on Monday as Wall Street cheered the company's new multibillion- dollar deal with French drugmaker Sanofi that sparked a dramatic turnaround for the struggling vaccine maker. Novavax's stock almost doubled on Friday after it announced the licensing agreement with Sanofi. Novavax on Friday said the deal allows the company to remove its "going concern" warning, which it first issued in February 2023 due to major doubts about its ability to stay afloat. "It really does h ...