Novavax Shares Surge on $1.4 Billion Vaccine Licensing Deal with Sanofi

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.

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(END) Dow Jones Newswires

05-10-24 0659ET