Novavax Soars 64% As Unknown Virus Spreads Through China

Shares of antibiotics developer Novavax (NVAX) are soaring amid reports that a new respiratory virus has infected more than 200 people in China.

Zhong Nanshan, who leads China's National Health Commission, told China's official state-run news organization Xinhua that two cases of human-to-human transmission had been confirmed in China, one in Wuhan and one in Guangdong.

Shares of Novavax are up 64%, or $3.65, to $9.39 in premarket trading. Meanwhile, Inovio Pharmaceuticals (INO) is up 14% to $3.75 and BioCryst Pharmaceuticals (BCRX) is up 11% to $3.09.