((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))
(Updates)
May 10 – ** Shares of vaccine manufacturer Novavax
NVAX.O more than doubled premarket, rising 141% to $10.78
** Company enters into licensing deal worth $1.20 billion with French drugmaker Sanofi SASY.PA for its COVID-19 vaccines
** NVAX clears doubts about its ability to continue its activities by removing the “going concern” notice
** SASY will take a 4.9% stake in NVAX for $70 million
** Novavax says it will co-market its COVID-19 vaccine with Sanofi and develop new COVID-19-flu combination vaccines using NVAX’s Matrix-M adjuvant
**Sanofi will pay Novavax $500 million upfront and up to $700 million in development, regulatory and launch milestones
**NVAX’s first-quarter net loss narrows to $148 million, from $294 million a year ago
** Until last close, the stock was down ~7% year to date