Novavax receives $125 million milestone as Sanofi starts Phase 3 flu‑COVID‑19 combo trial in Europe
Novavax earned a $125 million payment from Sanofi when the fifth patient was dosed in Sanofi’s Phase 3 trial of a combined influenza‑COVID‑19 vaccine in Europe. The trial tests Novavax’s Nuvaxovid together with Sanofi’s high‑dose flu vaccine in adults aged 60 and older. Under the collaboration, Novavax can receive a $75 million milestone for a mid‑2027 technology‑transfer and a further $225 million if a U.S. launch of the combo vaccine is completed, plus ongoing royalties. The companies say the partnership has already produced more than $1 billion in revenue for Novavax.
Why it matters
The $125 million cash inflow improves Novavax’s near‑term liquidity, and the potential future milestones and royalties could add significant upside if the combo vaccine reaches U.S. market approval. Investors should watch the trial’s progress and the timing of the technology‑transfer milestone.
Key facts
- 1Novavax received a $125 million milestone payment when the fifth patient was dosed in Sanofi’s Phase 3 trial. prnewswire.com
- 2The Phase 3 trial is being conducted in Europe and evaluates Nuvaxovid with Sanofi’s Efluelda/Fluzone High‑Dose vaccine in adults 60 years and older. investing.com
- 3Novavax is eligible for a $75 million milestone upon completion of a manufacturing technology transfer expected in mid‑2027. prnewswire.com
- 4An additional $225 million milestone is payable if a U.S. launch of the combination vaccine occurs after meeting all U.S. clinical and regulatory requirements. investing.com
- 5The partnership has generated more than $1 billion in revenue for Novavax to date. investing.com
- 6The combined global flu and COVID‑19 markets are valued at over $10 billion. prnewswire.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.