When there is a notable development with the coronaviruses, shares of vaccine makers involved in the fight against it tend to rise. The announcement of a new supply deal helped push the stock of Novavax to a nearly 14% gain on Friday.
The advance purchase agreement is between Novavax and Israel. The Middle Eastern nation has an option to take 5 million more doses of the company's vaccine. The financial details of the deal were not disclosed.
The Novavax jab is not yet authorized or approved for use in Israel, so far the country has only approved two other biotechs.
Novavax stated in its press release that it will work with the Ministry of Health to get necessary authorizations and finalize plans for distribution in Israel.
There are reports of a new variant of the coronaviruses. California and Texas are two states where the officially titled omicron BA.2 has been detected. Early findings seem to indicate that it might be slightly more transmissible than original omicron.
Comirnaty and mRNA-1273 are the clear front-runners in many regions, but Novavax isn't giving up on being a major jab supplier. The signing of a new top-level supply agreement is good news and makes the weapon of choice for coronaviruses more useful.
All Rights Reserved © 2024
