Press Release: Sanofi and Novavax announce co-exclusive licensing agreement to co-commercialize COVID-19 vaccine and develop novel flu-COVID-19 combination vaccines

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Go back to Press Release: Sanofi and Novavax announce co-exclusive licensing agreement to co-commercialize COVID-19 vaccine and develop novel flu-COVID-19 combination vaccines

JPMorgan Upgrades Novavax (NVAX) to Neutral, 'Sanofi Licensing Deal Brings In Flu Heavy Weight and Lifts Going Concern'

May 10, 2024 9:27 AM EDT

JPMorgan analyst Eric Joseph upgraded Novavax (NASDAQ: NVAX) from Underweight to Neutral.

The analyst comments "On the back of the announced licensing deal with Sanofi, we are upgrading Novavax shares to Neutral from Underweight. With the injection of cash upfront ($500M) removing Novavaxs going concern, , and the greater commercial heft brought to both COVID... More