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Sr. Director, Cell & Gene Therapies, Vaccine

Novavax Soars on $1.4B Deal With Sanofi for COVID Vaccine Sanofi announced a deal worth up to $1.4 billion with Novavax on Friday for its COVID-19 vaccine, giving the Maryland-based biotech a much-needed boost to its struggling business. The French pharma is dropping $500 million upfront for Novavax’s COVID-19 vaccine, with the goals of co-commercializing its current formulation as well as developing a combination vaccine for COVID and flu. An additional $700 million is up for grabs in milestone payments. Along with another potential $200 million in milestones for additional vaccines made with Novavax’s Matrix adjuvant technology, deal totals $1.4 billion—more than double the biotech’s current market cap of $627 million. Thanks to the infusion of cash, Novavax will be able to lift its prior warning to investors issued in February 2023 expressing doubts over its ability to stay in business, its CEO John Jacobs told CNBC News. The deal skyrocketed Novavax’s stock Friday morning in premarket trading, up 120% at one point. In February 2024, the stock had dropped over 25% after the biotech’s fourth quarter earnings missed estimates. https://lnkd.in/euX2zaMN

Novavax Soars on $1.4B Deal With Sanofi for COVID Vaccine | BioSpace

Novavax Soars on $1.4B Deal With Sanofi for COVID Vaccine | BioSpace

biospace.com

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