08:41 AM EDT, 09/04/2025 (MT Newswires) -- Novavax ( NVAX ) said Thursday that approval of its Nuvaxovid COVID-19 vaccine in Japan has triggered a milestone payment from Takeda Pharmaceutical ( TAK ) under the terms of its licensing agreement.

The company said it is eligible to receive royalties on net sales of Nuvaxovid from Takeda this vaccination season, and that a portion of the milestone payment can be credited towards future royalty payments.

Novavax ( NVAX ) said payment amounts from Takeda cannot be disclosed due to confidentiality agreements.

Novavax ( NVAX ) shares were 0.5% higher in premarket trading.