Alec Stranahan
BofA Securities, Research Division

[Audio Gap] Session with Novavax. My name is Alec Stranahan. I cover SMid-biotech at Bank of America, and I'm an analyst covering Novavax and it's my pleasure to introduce and be joined here by John Jacobs, President and CEO of Novavax, as well as Jim Kelly, Chief Financial Officer. Guys, thanks for being here again.

John Jacobs
President, CEO & Director

Thanks for having us here. It's always a pleasure.

Alec Stranahan
BofA Securities, Research Division

Yes, great. Looking forward to the conversation. Maybe just at a high level, you've completely executed the pivot from a vertically integrated COVID vaccine company to a technology platform business essentially, built around partnering Matrix-M. Obviously, you've got the Sanofi milestones and royalties from COVID. But I guess what are the most important proof points that demonstrate the new strategy is working? And are there any aspects to your strategy, you believe the market may be underappreciating?

John Jacobs
President, CEO & Director

Thank you for the question. We couldn't be more excited about where we're taking the company right now. We launched this new strategy, Alec, as you know, in January of last year. The first proof point really is that there's a remarkable level of interest that we're seeing in our technology from third parties who understand the vaccine and even the oncology immunotherapeutic space really, really well. So some of those proof points include the Pfizer deal, which we announced in January of this year. So that was about a year into launching the strategy.