Novavax's (NVAX.US) share price jumped more than 20% after the biotech company said Canada had agreed to pay $350 million for Covid vaccines that were previously due to be delivered. The settlement, in the case of NVAX, is significant because the company's management expressed doubts about its viability earlier in the year.
According to the SEC filing, the Canadian government's payment will be made in two equal instalments in 2023. It is worth mentioning that the vaccines for Covid-19 are the company's only commercial product.
The company's shares are currently testing the limitation formed by the 100-day exponential moving average (purple curve). Source: xStation 5
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