Novavax Files to Sell Stock

The company could sell up to $100 million of shares.
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Vaccine developer

Novavax

(NVAX) - Get Report

sank after the company announced that it filed a shelf registration allowing it to sell $100 million of its stock.

The shares fell 8.8% to $4.78 Wednesday.

The registration statement carries forward $42 million in unissued shares under a previous registration statement from December 2005. The new registration statement has not yet become effective.

Novavax says it has no plans to access the capital markets right now.