Novavax Stock More Than Doubles After $1.4 Billion Vaccine-Licensing Deal with Sanofi

Shares in Novavax (NVAX) surged after the vaccine maker said it had struck a $1.4 billion licensing deal with Sanofi (SNY, FR:SAN).

Novavax shares were up 139% shortly after the market open, at $10.69. The shares remain well off their record high near $320, set in February 2021.