Novavax in deal to supply 40 million COVID-19 vaccine doses to Australia

US biotech firm Novavax (Nasdaq: NVAX), which is developing next-generation vaccines for serious infectious diseases, today announced the signing of a non-binding ‘heads of terms’ document with the Australian government to supply 40 million doses of the company’s COVID-19 vaccine candidate, NVX-CoV2373, for the Australian community.

News of the deal, of which no financial terms were disclosed, edged the firm’s shares up 3.4% to $86.50 in late-morning trading.

“This arrangement with the Australian government reflects the importance of the ongoing clinical development of NVAX-CoV2373, and will ensure that the citizens of Australia will have access to its supply,” said Stanley Erck, president and chief executive of Novavax, adding: “We are pleased with the progress of our ongoing Phase III clinical trial in the UK, and are pressing forward to deliver efficacy data for NVX-CoV2373, with interim data in this event-driven trial expected as soon as early first quarter 2021.”