Novavax shares surge 10.36% premarket after licensing Matrix-M adjuvant to Pfizer for $30M upfront and potential $500M in milestones.

Novavax (NVAX) surged 10.36% in premarket trading following the announcement of a non-exclusive licensing agreement with Pfizer for its Matrix-M adjuvant technology. The deal, valued at an upfront $30 million with potential milestone payments of up to $500 million and tiered royalties on net sales, marks a significant monetization of Novavax’s platform. The agreement allows Pfizer to utilize Matrix-M in up to two disease areas, with Novavax responsible for supplying the adjuvant. The news, first reported in a PRNewswire statement and corroborated by subsequent summaries, underscores growing industry validation of the technology and provides immediate and long-term financial benefits. The stock’s sharp rise aligns with positive sentiment around the partnership and its revenue potential.