Novavax (NASDAQ:NVAX) has reached an agreement in principle with Canada to supply 76 million doses of its experimental coronavirus vaccine to the country.
The Gaithersburg, Maryland–based drug makersaid it expects to finalize an agreement to supply Canada with doses “as early as the second quarter of 2021.” The agreement is contingent on the vaccine getting a license from Health Canada, the company said.
The company’s vaccine, called NVX-CoV2373, is currently in phase two trials. The company has previously said it could begin late-stage trials as early as October.
"We are moving forward with clinical development of NVX-CoV2373 with a strong sense of urgency in our quest to deliver a vaccine to protect the world," Novavax CEO Stanley Erck said in a statement.
The company did not disclose the financial terms of the agreement.
Novavax is a late-stage biotechnology company that promotes improved health globally through the discovery, development, and commercialization of innovative vaccines to prevent serious infectious diseases.
Shares of Novavax rose 56 cents in mid-morning trading Monday on the news.
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