Shares of Novavax (NASDAQ: NVAX) rose 4.8% on Friday after the biotechnology company struck a deal to supply 1.1 billion doses of its experimental COVID-19 vaccine to an international coalition.
Novavax reached an agreement with Gavi, the Vaccine Alliance, to supply NVX-CoV2373, its coronavirus vaccine candidate, to the COVID-19 Vaccines Global Access (COVAX) initiative. COVAX is a global effort co-led by Gavi, the World Health Organization (WHO), and the Coalition for Epidemic Preparedness Innovations (CEPI). It's designed to facilitate the equitable distribution of vaccines around the world.
Shares of Novavax climbed on Friday. Image source: Getty Images.
Source Fool.com