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Reuters ·  May 10 11:12  · Movers

$Novavax (NVAX.US)$ surged after the vaccine maker said it had struck a licensing deal worth up to $1.4 billion with $Sanofi (SNY.US)$. The firm also posted a quarterly loss $1.05 a share Friday. The company also lifted its going-concern notice that was issued over a year ago.

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.

Sanofi will take a minority stake of less than 5% in Novavax.

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