Gaithersburg-based Lab Awarded $1.6 Billion for COVID-19 Vaccine

Gaithersburg-based lab awarded $1.6 billion for COVID-19 vaccine.

Novavax Inc. is expected to deliver 100 million doses of their vaccine as early as the end of 2020, according to a press release. They will first conduct a clinical trial with up to 30,000 participants in the fall. Novavax will share their results from a smaller trial conducted in Australia at the end of July.

Novavax is participating in Operation Warp Speed, a federal program that aims to speed up the design and manufacturing of a COVID-19 vaccine. This $1.6 billion award is the program’s largest to date.

Stocks in Novavax increased by about 40 percent following the announcement.

By Prayag Gordy

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