---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-022435"
form_type: "8-K"
ticker: "NVAX"
cik: "0001000694"
company_name: "NOVAVAX INC"
filed_at: "2025-03-11T23:59:59+00:00"
generated_at: "2026-05-24T23:08:44.660751+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Novavax terminates Canada COVID vaccine APA, to recognize $576M revenue in Q1 2025

## Summary
- Canada terminated APA effective March 7, 2025, citing Novavax's failure to obtain regulatory approval for vaccine from Biologics Manufacturing Centre by Dec 31, 2024.
- Novavax expects to recognize $576M previously in deferred revenue and other liabilities as product revenue in Q1 2025.
- $28M in advance payments must be refunded to Canada within 30 days of the termination notice.
- $20M escrow related to an MOU may be released to Novavax as the MOU is no longer feasible.

## SEC filing metadata
- accession: 0001104659-25-022435
- form_type: 8-K
- ticker: NVAX
- cik: 0001000694
- company_name: NOVAVAX INC
- filed_at: 2025-03-11T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1000694/000110465925022435/0001104659-25-022435-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1000694/000110465925022435/tm258808d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-022435
- JSON: https://secwatch.observer/filing/0001104659-25-022435.json
- Plain text: https://secwatch.observer/filing/0001104659-25-022435.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.