Shares of Novavax Inc. (NASDAQ: NVAX). jumped as much as 18% on Tuesday after the start of testing of its coronavirus vaccine candidate in people. The biotech expects to release data from the phase 1 portion of the trial this July.
Regeneron Pharmaceuticals, Inc. to repurchase about $5 billion of its shares directly from France’s Sanofi, without altering their over-a-decade-long partnership.
The company reported positive data on its early-stage human trial for a coronavirus vaccine earlier on Monday.
Following which it offered to raise $1.34 billion through a public offering
It hopes to primarily use the net proceeds of the offering to fund the manufacturing and distribution of its vaccine candidate, mRNA-1273, when necessary regulatory approvals are obtained.
