Novavax Shares Jumped 12% in Morning Trading

Tiger Newspress2022-07-19

Novavax shares jumped 12% in morning trading after Novavax signed production deal with SK bioscience for Omicron vaccine.

South Korean vaccine maker SK bioscience announced on Tuesday that the company extended its partnership with Novavax (NASDAQ:NVAX) to manufacture and supply the U.S. biotech’s Omicron-adapted COVID-19 shot.

SK bioscience currently produces Novavax’s (NVAX) protein-based COVID shot targeted at the original variant.

According to a statement from SK bioscience, the new agreement covers “technology transfer of Novavax proprietary COVID-19 variant antigen materials and manufacturing drug substance targeting COVID-19 variants.”

In addition, the company has agreed to manufacture and supply Novavax’s (NVAX) COVID-19 vaccine in a prefilled syringe. That process is expected to start this year for commercial supplies in 2023.

Early this month, Maryland-based Novavax (NVAX) announced its plans to develop a specific Omicron-containing COVID-19 vaccine in Q4 2022.

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Comments

Gerinit
2022-07-20
Gerinit
Pls like. Thanks
JaiVenky
2022-07-20
JaiVenky
Noise
NickHow
2022-07-20
NickHow
Nice
Lionel8383
2022-07-20
Lionel8383
Great
Chitz
2022-07-20
Chitz
Like
Ljoney
2022-07-20
Ljoney
Like

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