By Angel Adegbesan and Carmen Reinicke, Bloomberg
Novavax Inc.'s record one-day gain is forcing some short sellers betting against the stock to exit their positions at a loss.
Shares of the vaccine maker soared 99% Friday, after the company signed a $1.2 billion licensing agreement with Sanofi that includes commercializing a combined Covid-19 and flu shot. The move boosts a stock that had plunged about 99% - prior to the deal - from its 2021 peak amid waning demand for its Covid vaccine.
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