Novavax said Sanofi has triggered a $125 million milestone payment by dosing the fifth patient in a European Phase 3 trial of an influenza–COVID-19 combination vaccine. The vaccine uses Novavax’s COVID-19 component, and Novavax expects to receive the payment by the first quarter of 2027.
- The patient was dosed on October 28, 2026, in Sanofi’s Phase 3 trial in the European Union.
- The payment is due under the companies’ collaboration and license agreement.
- Novavax has not specified when within the first quarter it expects the funds or provided further details about the trial in this announcement.
The milestone creates a $125 million expected cash inflow for Novavax; the announcement does not state how the payment will be reflected in its financial results.