What is Novavax, Australia’s third COVID-19 vax option?

As AstraZeneca is no longer the preferred vaccine for Australian adults under 50, attention is turning to what other COVID-19 vaccine options are in our arsenal.
The Federal Government has ordered 40 million doses of the Pfizer vaccine, which will become the mainstay of the rollout, while AstraZeneca will continue to be administered for people over 50 in the current phase 1B.
The Federal Government also this week ruled out using Johnson & Johnson’s one-shot vaccine.
But Australia does have a deal for a third vaccine, by US biotech company Novavax. The government has ordered 51 million doses of this vaccine, though it’s yet to be approved by Australia’s drug regulator, the TGA, which is expected to make a decision in the third quarter of the year.