Novavax Wins COVID-19 Vaccine Contract With U.S. Department of Defense

Novavax (NASDAQ: NVAX) announced on Thursday evening that the U.S. Department of Defense (DoD) has awarded it a contract to supply a large quantity of its vaccine candidate NVX-CoV2373 to the military. The biotech is currently in the phase 1 stage of clinical trials evaluating the vaccine against SARS-CoV-2, the coronavirus that causes COVID-19.

The Department of Defense will provide Novavax up to $60 million to support the domestic manufacture of several components of the experimental COVID-19 vaccine. In return, Novavax will supply 10 million doses of NVX-CoV2373 to the DoD this year. These doses could be used in phase 2/3 clinical trials, but could also be administered to military personnel and their families if the Food and Drug Administration grants the vaccine candidate an Emergency Use Authorization (EUA).

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Source Fool.com