Investor Alert

Sept. 25, 2020, 7:30 a.m. EDT

Novavax stock rises as it announces vaccine manufacturing deal with Endo

Shares of Novavax Inc. (NAS:NVAX) jumped 6.8% in premarket trading on Friday after the company announced a COVID-19 vaccine manufacturing deal with Endo International (NAS:ENDP) . Endo's stock is up 7.3%. One of Endo's subsidiaries will provide fill-finish manufacturing services at a factory in Rochester, Mich.; the product being produced is expected to be used in the company's Phase 3 trials for NVX-CoV2373 in the U.S. as well as for potential general distribution to the public if the vaccine candidate receives any type of regulatory approval or authorization. Novavax CEO Stanley Erck said in the news release that the company is preparing for its pivotal Phase 3 clinical trial in the U.S. "to get underway very soon." On Thursday Novavax had announced that its vaccine candidate had entered Phase 3 clinical trials in the U.K. So far this year Novavax's stock is up 2,473.9%, shares of Endo are down 35.6%, and the S&P 500 (S&P:SPX) is up 0.5%.

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