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Motley Fool
Why Shares of Novavax Are Down Tuesday
Novavax (NASDAQ: NVAX) shares were down more than 16% in late-afternoon trading. On Tuesday, a dispute between the biotech maker of vaccines to treat infectious diseases and global nonprofit Gavi sent Novavax’s shares dropping. On Monday, Novavax canceled its contract with Gavi, saying the nonprofit had breached an agreement to purchase, in advance, 350 million doses of Nuvaxovid, Novavax’s COVID-19 vaccine.
