Novavax (NVAX) said Monday it updated financial terms of an agreement with Takeda (TAK) for the development and commercialization of its Covid-19 vaccine, Nuvaxovid, in Japan.
The company said the improved financial terms of the amended deal include an upfront payment, compensation tied to the 2024/2025 season, annual milestone payments linked to regulatory approvals, and royalties on seasonal net sales going forward.
NVAX shares were 1.1% higher in recent premarket activity.
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