Novavax Pharmaceuticals skyrocketed 150% before the market.
2024-05-10 10:56:16
Novavax Pharmaceuticals' US stock market jumped by more than 150% on May 10. On the news, the company announced a multi-billion dollar cooperation agreement with French pharmaceutical giant Sanofi. Under the agreement, the two parties will jointly commercialize Novavax Pharmaceuticals' COVID-19 vaccine starting next year and jointly develop a combination vaccine against coronavirus and influenza. Novavax CEO John Jacobs said the licensing agreement will help the company lift the "going concern" warning previously issued.
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