NOVAVAX INC (NVAX): restructuring charge — Novavax enters lease assignment and asset sales with AstraZeneca for $59.8M; expects Q3 non-cash charges of $125-127M

NOVAVAX INC

Assignment fee $15M, parcel sale $20M, asset sale $24.8M; total $59.8M from AstraZeneca.
Non-cash impairment of $96-98M in Q3 2025 from these transactions, plus $29M from convertible note extinguishment.
Parcel sale closes Q4 2025; lease assignment and asset sale close Q1 2026.
Novavax pays base rent for Jan-Jun 2026 under lease assignment; AstraZeneca responsible thereafter.
Corporate headquarters relocated from 700 Quince Orchard Rd to 21 Firstfield Rd, Gaithersburg.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

NOVAVAX INC announced a impairment with charges of between $96 million and $98 million affecting 700 Quince Orchard Road, Gaithersburg, MD facility.

Type: impairment
Charge: between $96 million and $98 million
Affected area: 700 Quince Orchard Road, Gaithersburg, MD facility

Exact text from the filing

on October 17, 2025, the Company concluded that it expects to recognize an estimated non-cash impairment charge of between $96 million and $98 million in the third quarter of 2025, which includes the write off of the right-of-use asset, property and equipment, and intangibles, partially offset by a gain recognized on the sale of adjacent land under the Parcel Agreement.

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Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

NOVAVAX INC announced a impairment with charges of $29 million.

Type: impairment
Charge: $29 million

Exact text from the filing

the Company expects to recognize a non-cash charge of $29 million during the third quarter of 2025 associated with the extinguishment of the 5.00% Convertible Senior Notes due 2027 and announced on August 27, 2025.

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6 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

NOVAVAX INC filing history →

Source: SEC EDGAR

accession 0001104659-25-101390

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