US Government Awards Novavax $1.6 Billion for Coronavirus Vaccine

A woman holds a small bottle labeled with a "Vaccine COVID-19" sticker and a medical syringe in this illustration taken on April 10, 2020. Dado Ruvic/Illustration/Reuters

CHICAGO—The U.S. government has awarded Novavax Inc $1.6 billion to cover testing, commercialization, and manufacturing of a potential coronavirus vaccine in the United States, with the aim of delivering 100 million doses by January 2021.

Novavax shares jumped 35 percent in premarket trade.