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Business & FinanceHealth

Reuters reveals Novavax executives could get big payday even if vaccine fails

Reuters exclusively reported that one of the leading U.S. firms developing a coronavirus vaccine, Novavax Inc, has awarded executives stock options that could pay out tens of millions of dollars even if its efforts fail. The incentive plan, which has not been previously reported, allows the executives to start exercising the options a year after Novavax starts the so-called Phase 2 trial, as it expects to do soon. The Maryland-based company has not brought a vaccine to market in its 33-year history. But its market value has rocketed from $250 million to $8 billion in about five months on news of its coronavirus vaccine prospects.

Article Tags
Topics of Interest: Business & FinanceHealth
Type: Reuters Best
Sectors: Equities
Regions: North America
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text