Shares of Novavax (NASDAQ: NVAX) climbed 10% on Friday after the biotechnology company reached a coronavirus vaccine supply deal with the United Kingdom.
Novavax will supply the U.K. with 60 million doses of its COVID-19 vaccine candidate, NVX-CoV2373. The biotech is also planning a phase 3 study to test the effectiveness of the vaccine among participants from the U.K.
"It is encouraging that Novavax's recent clinical data shows their vaccine triggers an immune response greater than that in patients who have recovered from the disease," said Kate Bingham, Chair of the U.K. Government's Vaccines Taskforce. "We believe that Novavax has a highly innovative vaccine that could be the first in its class of protein-based vaccine options."
Source Fool.com