Nuvaxovid FDA Approval Unlocks Several Bullish Stimuli
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BofA analyst Alec Stranahan reiterated a Hold rating on Novavax, Inc. (NASDAQ:NVAX) stock, setting a price target of $10. The approval of Nuvaxovid for use in older and high-risk adults will generate around $175 million in milestone payments from Sanofi during Q3 and an additional $50 million in the second half of
The biotechnology company said the FDA approved the biologics license application for Nuvaxovid to prevent Covid-19 in adults ages 65 and up and individuals ages 12 through 64 who have at least one underlying condition that puts them at high risk for severe outcomes from the coronavirus.