---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-101390"
form_type: "8-K"
ticker: "NVAX"
cik: "0001000694"
company_name: "NOVAVAX INC"
filed_at: "2025-10-22T23:59:59+00:00"
generated_at: "2026-05-17T02:40:07.348378+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Novavax enters lease assignment and asset sales with AstraZeneca for $59.8M; expects Q3 non-cash charges of $125-127M

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-25-101390
- form_type: 8-K
- ticker: NVAX
- cik: 0001000694
- company_name: NOVAVAX INC
- filed_at: 2025-10-22T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.06, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1000694/000110465925101390/0001104659-25-101390-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1000694/000110465925101390/tm2529188d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-101390
- JSON: https://secwatch.observer/filing/0001104659-25-101390.json
- Plain text: https://secwatch.observer/filing/0001104659-25-101390.txt

## Key facts
- Restructurings & Charges
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1000694/000110465925101390/0001104659-25-101390-index.htm
- Restructurings & Charges
  NOVAVAX INC announced a impairment with charges of $29 million.
  - Type: impairment
  - Charge: $29 million
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1000694/000110465925101390/0001104659-25-101390-index.htm

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