Novavax Inc (NVAX.US) officially announced $1.6 billion funding from Operation Warp Speed. The company has been selected to participate in Operation Warp Speed (OWS) - U.S. government program which goal is to deliver millions of doses of vaccine for COVID-19 in 2021. Funding should support late-stage clinical development and establishing large-scale manufacturing. As a result, the company is supposed to deliver 100 million doses of NVX-Cov2373 - Novavax’ COVID-19 vaccine candidate. Production ought to start in late 2020.
Novavax Inc (NVAX.US) share price is surging in the pre-market trading following a promising announcement. The company has already benefited from the coronavirus pandemic as it has been engaged in some clinical development of its coronavirus vaccine. As one can notice on the chart above, stock did open with a huge bullish gaps in the past and it should also be the case today. Source: xStation5
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