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Novavax Stock More Than Doubles After Sanofi Vaccine-Licensing Deal
Novavax Stock More Than Doubles After Sanofi Vaccine-Licensing Deal
By
WSJ Staff
Novavax's Covid-19 vaccine uses different technology to those offered by Pfizer-BioNTech and Moderna. (Dado Ruvic/Reuters)
Novavax shares (NVAX) surged after the vaccine maker said it had struck a licensing deal worth up to $1.4 billion with Sanofi (SNY, FR:SAN).
Novavax shares were up 133% in recent trading at $10.11. The shares remain far off their record high near $320, set in February 2021.
The company said overnight that it would jointly commercialize its Covid-19 vaccine worldwide with Sanofi. The French healthcare company will get a sole license to combine the treatment with its flu vaccine.
