NVAX Stock Climbs as Novavax Settles Covid-19 Vaccine Dispute

Novavax (NASDAQ:NVAX) stock is taking off on Thursday after the company reached a settlement with global vaccine organization Gavi.This settlement has Novavax agreeing to pay up to $475 million to Gavi following a dispute over payments for its Covid-19 vaccine. The crux of the matter had to do with Gavi seeking a refund on a$700 million advance payment for vaccines it later chose not to order from Novavax.Novavax isn’t paying Gavi back all at once and will instead make payments through Dec. 31, 2028. This ...