From 24/7 Wall St. · David Moadel · · 1m
Novavax Plunges 12% as Selloff Hits Vaccine Makers
Vaccine stocks crash as Novavax drops 12% amid partner Sanofi's rollout.
In brief
Vaccine stocks crash as Novavax drops 12% amid partner Sanofi's rollout. Novavax stock fell 12% to $11.23 after Sanofi's Nuvaxovid rollout began in UK, Germany, and Canada. Originally reported by 24/7 Wall St..
Vaccine Stocks Crashing
Vaccine stocks are under heavy pressure with Novavax dropping 12% to $11.23 in afternoon trading.
Novavax's Partner Sanofi
Sanofi holds U.S. approval for Novavax's Nuvaxovid vaccine and rolls it out in UK, Germany, and Canada.
Moderna and Pfizer Tumble
Moderna stock drops 10% to $212.80 while Pfizer holds steady at $29.59.
Citi's Mixed Signal
Citi keeps Novavax's Sell rating but raises its price target, signaling uncertainty.
Novavax's Revenue Model
Novavax collects royalties from Sanofi while partners handle manufacturing and sales.
Sanofi's Rollout Impact
Sanofi's Nuvaxovid rollout in UK, Germany, and Canada affects Novavax's royalty payments.
Investor Reaction
Investors weigh royalty upside against milestone timing risk for Novavax stock.
In short
Novavax stock fell 12% to $11.23 after Sanofi's Nuvaxovid rollout began in UK, Germany, and Canada.
