Why Novavax Stock Surged 14% on Friday

Any time there's a notable development with the coronavirus, shares of vaccine makers involved in the fight against it tend to rise. That, combined with the announcement of a new supply deal, helped push coronavirus stock Novavax (NASDAQ: NVAX) to a nearly 14% gain on Friday.

The deal is an advance purchase agreement between Novavax and Israel's Ministry of Health. Under its terms, the Middle Eastern nation will take 5 million doses of the company's NVX-CoV2373 and holds an option for 5 million more. The financial particulars of the deal were not disclosed.

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Source Fool.com