Why Novavax Stock Is Rising Today
Shares of Novavax (NASDAQ: NVAX) were rising 4.2% higher as of 11:42 a.m. ET on Thursday after climbing as much as 7% earlier in the day. The gain came after the company announced that its partner, Takeda Pharmaceutical (NYSE: TAK), has filed for approval of Novavax's COVID-19 vaccine in Japan.
Regulatory submission in Japan is an important milestone for Novavax. The Japanese government has committed to purchasing 150 million doses of NVX-CoV2373 (known as TAK-019 in Japan) if it wins approval. The financial terms of this supply agreement weren't announced. However, it's safe to say that Novavax could make a significant amount of money if its vaccine wins Japanese approval.
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Source Fool.com
