On December 12, 2024, Novavax entered into Amendment #5 to its Advanced Purchase Agreement with the Commonwealth of Australia. The amendment acknowledges the cancellation of certain COVID-19 vaccine doses scheduled for delivery between Q4 2023 and Q4 2025. Approximately $31 million of the advanced payment will be credited against outstanding invoices and future delivery of about 3 million doses without additional cash payments.The parties agreed to an updated delivery schedule for potential COVID-19 Vaccine or future variant vaccine through 2029. The amendment includes remedies for the Commonwealth, such as return of unused credit, dose cancellation, or agreement termination, if Novavax misses deliveries or fails to obtain regulatory approval for a variant vaccine. The Commonwealth also gains the right to cancel doses if Novavax fails to timely notify of changes to its commercialization plans.

On December 12, 2024, Novavax entered into Amendment #5 to its Advanced Purchase Agreement with the Commonwealth of Australia. The amendment acknowledges the cancellation of certain COVID-19 vaccine doses scheduled for delivery between Q4 2023 and Q4 2025. Approximately $31 million of the advanced payment will be credited against outstanding invoices and future delivery of about 3 million doses without additional cash payments.The parties agreed to an updated delivery schedule for potential COVID-19 Vaccine or future variant vaccine through 2029. The amendment includes remedies for the Commonwealth, such as return of unused credit, dose cancellation, or agreement termination, if Novavax misses deliveries or fails to obtain regulatory approval for a variant vaccine. The Commonwealth also gains the right to cancel doses if Novavax fails to timely notify of changes to its commercialization plans.