Novavax Shares Surge on $1.4 Billion Vaccine Licensing Deal with Sanofi
Provided by
Dow Jones
By Dean Seal
Shares of Novavax surged after the company disclosed a $1.4 billion licensing deal with Sanofi.
The stock was up 72% at $7.66 in premarket trading on Friday. Shares are on track to open in positive territory year-to-date.
The vaccine maker said overnight that it has reached a licensing agreement with Sanofi to jointly commercialize its current Covid-19 vaccine worldwide and provide Sanofi with a sole license to its vaccine for use in combination with Sanofi's flu vaccine.
As part of the deal, Sanofi will take a minority equity investment in Novavax.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
May 10, 2024 06:59 ET (10:59 GMT)
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