With US equity futures under pressure on Tuesday early morning – it’s not unexpected whatsoever that hopium-inspiring vaccine headlines are hitting the tape.
Novavax was awarded $ 1.6 Billion in funding via Operation Lightning speed to support “massive production of NVX-COV2373”
NOVAVAX ANNOUNCES $ 1.6 BILLION FINANCING FROM OPERATION TERMINAL VELOCITY
Gaithersburg, Maryland-based Novavax stated in a declaration that preliminary production of 100 million dosages would start in late2020 The goal is to have millions of dosages all set by January2021
- NOVAVAX – OWS AWARD FUNDS MASSIVE PRODUCTION OF NVX-COV2373, INCLUDING PRODUCTION OF 100 MILLION DOSES STARTING IN LATE 2020
Novavax shares jumped as much as 35% in premarket Tuesday following the news.
So far, this is the largest financing award via Operation Terminal Velocity, the White Home program to fast track a vaccine for COVID-19
” What this Warp Speed award does is it pays for production of 100 million dosages, which would be provided starting in the fourth quarter of this year, and may be completed by January or February of next year,” Novavax CEO Stanley Erck told Reuters
The funds will also help the biotech cover expenses associated with a big Stage 3 trial, the last of human testing, anticipated to start in fall, and could consist of as many as 30,00 0 topics.
Today’s announcement follows a $456 million partnership (in March) between Johnson & Johnson and the US federal government for a COVID-19 vaccine. In April, the government awarded Moderna Inc $486 million for vaccine development and up to $1.2 billion in May for AstraZeneca’s vaccine being developed with Oxford University.
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