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The Food and Drug Administration authorized Novavax's updated protein-based Covid vaccine for emergency use in people ages 12 and up on Friday, paving the way for the shot to compete with Pfizer and Moderna's jabs this fall and winter.
Shares of Novavax jumped as much as 50% on Monday as Wall Street cheered the company's new multibillion-dollar deal with French drugmaker Sanofi that sparked a dramatic turnaround for the struggling vaccine maker.
Novavax on Friday said it has signed a multibillion-dollar deal with French drugmaker Sanofi to co-commercialize the company's Covid vaccine starting next year and develop combination shots targeting the coronavirus and the flu, among other efforts.
U.S. stock futures rose Friday, putting the the Dow Jones Industrial Average on track for another winning session.
Shares of Novavax closed more than 20% higher on Thursday after the company said it will settle a bitter arbitration dispute with Gavi, a nongovernmental global vaccine organization, over a canceled Covid vaccine purchase agreement.