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Novavax Stock Soars 25%. A Vaccine Purchase Settlement Is One Reason Why.

Novavax Stock Soars 25%. A Vaccine Purchase Settlement Is One Reason Why.

Novavax was rising sharply Thursday after the vaccine maker reached a settlement with nongovernmental organization Gavi for its Covid-19 vaccine. Novavax said in a news release Thursday that it had reached a settlement related to a 2021 advance purchase agreement for its prototype Covid-19 vaccine. Gavi is an international organization that works to improve access to vaccines for children in lower-income countries.