PFE

Pfizer, Inc.

53.91
USD
-0.15%
53.91
USD
-0.15%
38.48 61.71
52 weeks
52 weeks

Mkt Cap 300.72B

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Why Novavax Stock Surged 14% on Friday

What happened 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. So what 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. The Novavax jab is not yet authorized or approved for use in Israel; so far, the country has only approved fellow biotech Moderna's mRNA-1273 (Spikevax) and Comirnaty from Pfizer and BioNTech. In its press release on the matter, Novavax wrote that it "will work with the Ministry of Health to obtain the necessary authorizations and finalize plans for distribution in Israel pending regulatory approval." The news comes amid reports of a new variant of the coronavirus similar to omicron. The officially titled omicron BA.2 has been detected in several U.S. states, including California and Texas. Information is still somewhat sparse about it; early findings seem to indicate it might be slightly more transmissible than "original" omicron. Now what Novavax is certainly a scrappy competitor in the "Global Coronavirus Vaccine Contest." Comirnaty and mRNA-1273 are the clear front-runners in many regions, but Novavax isn't giving up on being a major jab supplier too. The signing of a new, top-level supply agreement is indisputably good news and makes NVX-CoV2373 an increasingly useful weapon in the world's coronavirus-fighting arsenal. 10 stocks we like better than Novavax When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Novavax wasn't one of them! That's right -- they think these 10 stocks are even better buys. *Stock Advisor returns as of January 10, 2022 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends Moderna Inc. The Motley Fool has a disclosure policy. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

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