---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-004785"
form_type: "8-K"
ticker: "NVAX"
cik: "0001000694"
company_name: "NOVAVAX INC"
filed_at: "2026-01-20T23:59:59+00:00"
generated_at: "2026-05-16T09:27:30.682618+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Novavax licenses Matrix-M adjuvant to Pfizer for up to $500M milestones plus royalties

## Summary
- Upfront payment of $30M in Q1 2026; eligible for up to $500M in milestones ($70M development, $180M sales per field).
- Tiered high mid-single digit royalties on net sales until later of 20 years or patent expiry.
- Non-exclusive worldwide license for up to two infectious disease fields; first field selected, second at Pfizer's option.
- Pfizer controls development, manufacturing, and commercialization; separate supply agreements to be finalized.

## SEC filing metadata
- accession: 0001104659-26-004785
- form_type: 8-K
- ticker: NVAX
- cik: 0001000694
- company_name: NOVAVAX INC
- filed_at: 2026-01-20T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1000694/000110465926004785/0001104659-26-004785-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1000694/000110465926004785/tm263587d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-004785
- JSON: https://secwatch.observer/filing/0001104659-26-004785.json
- Plain text: https://secwatch.observer/filing/0001104659-26-004785.txt

## Key facts
- Material Agreements
  NOVAVAX INC entered into License and Option Agreement with Pfizer Inc. valued at $30 million (effective 2026-01-15).
  - Action: entry
  - Agreement: license
  - Counterparty: Pfizer Inc.
  - Value: $30 million
  - Effective: 2026-01-15
  source text: On January 15, 2026, (the “Effective Date”), Novavax, Inc. (the “Company”) entered into a License and Option Agreement (the “License and Option Agreement”) with Pfizer Inc. (“Pfizer”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1000694/000110465926004785/0001104659-26-004785-index.htm

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