Shares of Novavax (NASDAQ:NVAX) jumped on Tuesday on news of a major supply deal with the Japanese government. By the close of trading, the biotechnology company’s stock price was up 7.6%.
Japan’s Ministry of Health, Labour, and Welfare will buy 150 million doses of Novavax’s COVID-19 vaccine candidate, subject to regulatory approval. The financial terms of the agreement were not disclosed.
Novavax struck a sizable coronavirus vaccine supply deal with Japanese health officials. Image source: Getty Images.
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Having dropped from the lofty heights it reached only a few short months ago, Alector (NASDAQ:ALEC) stock was having another bad day on Wednesday. The biotech’s shares were down nearly 17% in mid-afternoon trading following some news from the C-suite.
After market hours on Tuesday, Alector announced the departure of two high-level executives. It said that chief operating officer Shehnaaz Suliman and chief medical officer Robert Paul will step down following a “transition period,” and should continue to serve as advisors to the company....More>>>
Shares of Moderna (NASDAQ:MRNA) jumped 7.8% on Thursday after the drugmaker announced several notable advances during its annual research and development update.
Moderna is developing a single-dose vaccine, known as mRNA-1073, that includes boosters against both COVID-19 and seasonal flu. The biotech is also evaluating four development candidates against coronavirus variants, including Delta, with three already in clinical trials.
Moderna’s stock price rose sharply following its R&D update on Thursday. Image source: Getty Images.
One of this week’s top roller-coaster stocks, biotech Impel NeuroPharma (NASDAQ:IMPL), experienced another queasy price lurch on Friday. The company’s shares fell by almost 24% on the pricing of an upcoming share issue.
After market hours on Thursday, Impel NeuroPharma set the price for its previously announced 3 million-share issue of common stock at $15 per share. The company is also granting the issue’s underwriters a 30-day option to buy up to an additional 450,000 shares at that price. The issue should close next Tuesday, Sept.....More>>>
AzurRx BioPharma, Inc. (AZRX Quick QuoteAZRX ) announced that it will rename itself as “First Wave BioPharma, Inc.” after the acquisition of a small biotech company, First Wave Bio, Inc.
The company acquired First Wave Bio in a stock and cash transaction valued at $229 million, which also includes potential milestone payments. The acquisition will be completed through a reverse triangular merger, according to the terms of the agreement.
Per an Investopedia article, in a reverse triangular merger, the acquiring company creates a new subsidiary company that purchases....More>>>