Novavax Inc (NASDAQ:NVAX) shares are trading higher. The company on Thursday reached a settlement for its 2021 vaccine advance purchase agreement with Gavi.
What To Know: Novavax said it reached a settlement with Gavi related to the 2021 advance purchase agreement for Novavax’s prototype COVID-19 vaccine. The agreement brings the pending arbitration related to the advance purchase agreement to a close.
“Novavax is pleased to have reached this agreement with Gavi as it gives us the ability to continue to work together toward our shared mission of ensuring equitable access to safe and effective vaccines,” said John Jacobs, president and CEO of Novavax.
“We look forward to a long-term partnership with Gavi to provide continued access to our protein-based non-mRNA COVID-19 vaccine.”
Under the terms of the agreement, Novavax has made an initial payment of $75 million to Gavi and has ...