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Novavax Stock Surge After Resolving Covid-19 Vaccine Dispute Novavax Stock Surge After Resolving Covid-19 Vaccine Dispute

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NVAX Stock - NVAX Stock Climbs as Novavax Settles Covid-19 Vaccine Dispute

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Novavax (NASDAQ:NVAX) experiences a surge in stock performance after resolving a prolonged dispute with global vaccine organization Gavi.

The company has agreed to pay up to $475 million to Gavi following a dispute over payments for its Covid-19 vaccine. This resolution comes after Gavi sought a refund on a $700 million advance payment for vaccines it later chose not to order from Novavax.

As part of the settlement, Novavax is committed to making payments through Dec. 31, 2028, amounting to $80 million per year in quarterly installments. However, the total payments may be reduced if Gavi orders additional Covid-19 vaccines from the company.

Implications for NVAX Stock

This settlement is a pivotal victory for Novavax, as it significantly reduces its liability from the initially sought $700 million refund by Gavi. Moreover, the resolution dispels uncertainties clouding the company’s future and has reignited investor interest in NVAX stock. The substantial surge in trading volume, exceeding 6.8 million shares, reflects this renewed market confidence.

As of Thursday morning, NVAX stock is up an impressive 27.2%, completely offsetting its year-to-date losses and signaling a strong rebound.

Investors keen on staying updated with the latest stock market movements will find our comprehensive coverage insightful!

We’ve got you covered with the most current news on Thursday’s stock market dynamics, including updates on Super Micro ComputerΒ (NASDAQ:SMCI) stock, RivianΒ (NASDAQ:RIVN) layoffs, and Lucid (NASDAQ:LCID) stock downgrade.

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On the date of publication, William WhiteΒ did not have (either directly or indirectly) any positions in the securities mentioned in this article.Β The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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