What's Going On With Novavax Stock Today?
Portfolio Pulse from Adam Eckert
Novavax Inc (NASDAQ:NVAX) shares are trading higher after reaching a settlement with Gavi for its 2021 vaccine advance purchase agreement. The settlement closes pending arbitration and involves an initial payment of $75 million by Novavax, with deferred payments of $80 million annually through 2028 and an additional vaccine credit of up to $225 million. Novavax is expected to report a Q4 loss of 50 cents per share and revenue of $321.66 million. The company does not pay dividends but engages in other capital allocation programs.
February 22, 2024 | 3:28 pm
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Novavax settles with Gavi, closing arbitration on 2021 vaccine deal. Initial $75M payment, $80M yearly till 2028, plus $225M vaccine credit. Expected Q4 loss of 50c/share, $321.66M revenue.
The settlement with Gavi removes a legal uncertainty and could be viewed positively by investors, potentially leading to a short-term increase in NVAX stock price. The detailed financial commitment and upcoming Q4 earnings report also provide clear financial outlooks, which can influence investor sentiment.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100