From CNBC: 2024-05-13 17:46:34

Novavax stock closed nearly 50% higher on Monday after announcing a multibillion-dollar deal with Sanofi. The agreement includes a less than 5% stake for Sanofi in Novavax, $500 million upfront payment, and future royalty payments. Sanofi will co-market Novavax’s Covid vaccine, along with developing combination jabs targeting Covid and the flu starting in 2025. The deal is expected to provide significant capital and growth support to Novavax. Jefferies analyst Roger Song believes the deal validates Novavax’s protein-based vaccine platform, offering a valuable alternative to mRNA vaccines from Pfizer and Moderna. Sanofi’s ability to raise consumer awareness about Novavax’s vaccine’s tolerability compared to competitors could drive greater commercial success starting in 2025. Song also highlighted that milestone payments from the deal are significant and relatively near-term, providing a steady revenue stream for Novavax each year.



Read more at CNBC: Novavax stock jumps on Sanofi Covid vaccine deal