Novavax (NASDAQ:NVAX) stock is on the move Monday after extending its Covid-19 vaccine agreement with the U.S. government.
The U.S. Department of Health and Human Services (HHS) is working with the Department of Defense to order another 1.5 million doses of the Covid-19 vaccine made by Novavax. This is part of the U.S. government’s effort to make the vaccine “free to states, jurisdictions, federal pharmacy partners and federally qualified health centers.”
Novavax says the agreement will support the continued development of its Covid-19 vaccine. That includes creating smaller dose vials, strain selection matching U.S. Food and Drug Administration (FDA) recommendations and a transition to the commercial market.
John Jacobs, President and CEO of Novavax, said the following about the news:
“We look forward to continuing our collaboration with the U.S. government on the development of our COVID-19 vaccine to meet the requirements of the FDA and our commercial customers for the upcoming 2023/2024 vaccination campaign.”
NVAX Stock Movement Today
NVAX stock initially started off up in pre-market trading on Monday morning. However, the stock’s shares are slipping shortly after the opening bell. This has shares of NVAX stock down 2.4% on Monday morning.
That comes with light trading as only about 300,000 shares of the stock have changed hands. For the record, the company’s daily average trading volume is closer to 7 million shares.
Investors on the lookout for more recent stock market news are in luck!
InvestorPlace is home to all of the hottest stock market news traders need to know about on Monday! Among that is what has shares of Sorrento Therapeutics (NASDAQ:SRNE), G1 Therapeutics (NASDAQ:GTHX) and Vallon Pharmaceuticals (NASDAQ:VLON) stock moving today. All of that news is ready at the links below!
More Monday Stock Market News
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- Why Is Vallon Pharmaceuticals (VLON) Stock Up 38% Today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.