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Novavax shares surged after a deal to supply Korean SK Group to candidate COVID-19 vaccine



Shares of Novavax Inc. NVAX,
+ 6.58%
up 2.8% in pre-market trading on Thursday, after the biotech company said it had signed a development and supply agreement with SK Group’s SK Group subsidiary SK Bioscience National for antigenic composition of vaccine candidate COVID-19 of Novavax, NVX-CoV2373. The companies also signed a letter of intent with the Korean Ministry of Health and Welfare to supply NVX-CoV2373 in Korea, as well as the global market. Under the terms of the agreement, SK Bioscience will fabricate the vaccine antigen component during a pandemic. Phase 1

data of the Phase 1/2 clinical trial showed that NVX-CoV2373 was well tolerated and produced a “robust” antibody response. Novavax shares more than tripled (up 205.9%) in the past three months through Wednesday, while iShares Nasdaq Biotechnology ETF IBB,
-0.03%
increased 3.3% and the S&P 500 SPX,
-0.06%
has raised 19.9%.


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