Novavax (NVAX) said Friday it achieved the first milestone under its agreement with Sanofi (SNY), earning a $50 million payment tied to progress in its phase 2/3 trial for a COVID-19 vaccine in children.
The payment marks the first milestone since the partnership began in May, Novavax said. The company could earn up to $300 million in additional milestones related to its COVID-19 vaccine and a further $350 million for combination products under the agreement, alongside tiered royalties on future sales.
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