Novavax shares jump 40% on $1.2 billion licensing deal with Sanofi despite Q1 losses

Novavax (NASDAQ:NVAX) shares rocketed 40% in premarket trading Friday, driven not only by the company’s fiscal Q1 2024 earnings report but more significantly, by a crucial multi-billion dollar deal with French pharmaceutical giant Sanofi SA. Despite reporting a first-quarter loss per share of $1.05, wider than the $0.92 anticipated by analysts, and revenue of $93.85 […]