Novavax Shares Soar 98% on Sanofi Partnership to Boost Covid Vaccine
👉 Key Highlights:
📍 Novavax's shares jump 120% in premarket trading after announcing a deal with Sanofi.
📍 Partnership to co-commercialize Covid vaccine and develop combination flu shots.
📍 Sanofi to make an upfront payment of $500 million to Novavax, with potential for up to $700 million more.
📍 Deal includes royalties and up to $200 million in additional milestones.
📍 Sanofi acquires less than 5% stake in Novavax; boosts its vaccine development capabilities.
📍 Novavax to lead Covid vaccine commercialization through 2024, then transition to Sanofi.
📍 Novavax's shares jump 120% in premarket trading after announcing a deal with Sanofi.
📍 Partnership to co-commercialize Covid vaccine and develop combination flu shots.
📍 Sanofi to make an upfront payment of $500 million to Novavax, with potential for up to $700 million more.
📍 Deal includes royalties and up to $200 million in additional milestones.
📍 Sanofi acquires less than 5% stake in Novavax; boosts its vaccine development capabilities.
📍 Novavax to lead Covid vaccine commercialization through 2024, then transition to Sanofi.
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