After losing more than 90% of its value from a peak back in 2021, (NASDAQ: NVAX) stock has finally taken off. The biotech soared 190% in two trading sessions after announcing a $1.2 billion vaccine-licensing deal with French pharmaceutical giant Sanofi. The agreement removed one huge worry that's been weighing on the stock: Novavax's ability to continue operations. The vaccine maker issued a going concern early last year, warning that if uncertainties deepened, the company would be forced to shut its doors.

The Sanofi agreement allowed Novavax to lift this going concern, as it represents a huge change for the company's financial situation. And it also offers Novavax the opportunity to benefit from the pharma giant's massive commercial infrastructure -- something that should help the Novavax vaccine and possibly future products gain ground in the market. So, it's no surprise that such news prompted some investors to pile into the stock. But does this rapid gain mean it's too late to buy Novavax shares now? Let's find out.

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Source Fool.com