Novavax Inc. (Nasdaq: NVAX) said Wednesday it has raised $115 million in gross proceeds by selling 28.75 million shares of its common stock, which the Gaithersburg biotech plans to pour into its pipeline.
Some of the net proceeds will go toward advancing Novavax's Respiratory Syncytial Virus (RSV) nanoparticle vaccine into a Phase 2 trial in elderly subjects this year. The biotech is also studying its RSV vaccine for pediatric and maternal populations.