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Novavax stock doubles after Sanofi deal marks 'new chapter' for company

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John Jacobs Nyheter

Sanofi,Biotech Company,Novavax

Novavax stock popped Friday on news of a licensing deal and minority stake from Big Pharma player Sanofi.

The deal gave Novavax a much-needed cash boost as the company had flagged after a pandemic-era surge.

When asked if Sanofi had previously approached Novavax for partnership, CEO Jacobs said he couldn't comment. Novavax beat on earnings per share, at $1.08 versus consensus estimates of $1.05, but it missed on revenues, reporting $98.3 million compared to Wall Street expectations of more than $101 million.is the senior health reporter at Yahoo Finance, covering all things pharma, insurance, care services, digital health, PBMs, and health policy and politics.

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Novavax CEO on Sanofi deal: 'This is a new chapter in the history of our company'Novavax stock popped Friday on news of a licensing deal and minority stake from Big Pharma player Sanofi.
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