Novavax signs deal to sell 76 million coronavirus vaccine candidate to Canada

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Novavax on Monday announced an agreement in principle to supply up to 76 million doses of its coronavirus vaccine candidate to Canada. The news sent NVAX stock rising early.

Financial terms weren’t disclosed, but Novavax (NVAX) said it will supply doses of its NVX-CoV2373 coronavirus vaccine to Canada beginning as early as second-quarter 2021.

The Gaithersburg, Md.-based vaccine company already has deals to supply 100 million doses to the U.S. and 60 million to the U.K.

NVAX stock rose 4.9% in early trading in the stock market today, near 113. Still, NVAX stock remains far below a five-year high of 189.40 that it touched early this month.

Novavax is amid Phase 2 clinical trials of its Covid vaccine and this month began a Phase 2b test in South Africa. Phase 3, or final-phase, testing awaits.

Three other coronavirus vaccine efforts already are in Phase 3 or Phase 2/3 trials. U.K.-based AstraZeneca (AZN) and its partner, the University of Oxford, were first. Then, on July 27, both Moderna (MRNA) and the team of Pfizer (PFE) and Germany’s BioNTech (BNTX) announced the start of Phase 3 trials.

Moderna and Pfizer/BioNTech also have deals to supply Covid vaccines to Canada, though the companies and government didn’t give exact numbers of doses on those agreements.

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