Novavax (NVAX.US) shares are gaining nearly 120% before the start of this week's final trading session on the back of the signing of a $1.2 billion licensing agreement with Sanofi (SAN.FR).
إبدأ بالإستثمار اليوم أو تدرّب على حساب تجريبي
قم بفتح حساب حقيقي جرب الحساب التجريبي تحميل تطبيق الجوال تحميل تطبيق الجوالCurrent stock price change before the opening of the Wall Street session. Source: Yahoo Finance
Under the deal, Sanofi will acquire a 4.9% stake in the U.S. drugmaker. The taj deal and the stake acquisition values Novavax at about $1.4 billion, almost double its market capitalization of about $628 million yesterday. The agreement entitles Novavax to an upfront cash payment of $500 million and future payments contingent on certain milestones, as well as royalties ($700 million).
On the other hand, Sanofi will be licensed to co-market Novavax's vaccine in most countries and to use this COVID vaccine together with its own influenza vaccines as a combination vaccine. The license will begin early in the new year. Sanofi will also benefit from Novavax's flagship vaccine technology, the Matrix-M adjuvant, which can be used to develop entirely new vaccines. Novavax could gain another $200 million in this utility, the company added in a public announcement.
More details of this agreement can be found at the link below.
Source: xStation
