On Jul. 7, 2020, Novavax announced that it has been selected to participate in Operation Warp Speed, a U.S. government program that aims to begin delivering millions of doses of a safe, effective vaccine for COVID-19 in 2021.

Novavax was awarded $1.6 billion by the federal government to complete late-stage clinical development, including a pivotal Phase 3 clinical trial; establish large-scale manufacturing; and deliver 100 million doses of NVX-CoV2373, Novavaxﾒ COVID-19 vaccine candidate, as early as late 2020. NVX-CoV2373 consists of a stable, prefusion protein made using its proprietary nanoparticle technology and includes Novavaxﾒ proprietary Matrix-Mﾙ adjuvant.