Novavax, Inc.

Novavax Reports Third Quarter 2026 Financial Results and Operational Highlights

Novavax reported Q3 2026 total revenue of $68 million, down 3% year-over-year, but product sales more than doubled (+91%) to $26 million. The net loss narrowed dramatically to $31 million from $202 million a year ago, helped by a 47% GAAP cut in R&D spend and 25% lower SG&A as the Sanofi transition cuts costs. The company raised FY26 Non-GAAP Adjusted Total Revenue guidance by $145 million to $400 million at the midpoint, driven by a $125 million milestone earned in October when Sanofi launched its Phase 3 influenza-COVID-19 combination vaccine trial in Europe. Sanofi confirmed intent to start a U.S. Phase 3 CIC trial in 2027, keeping Novavax eligible for a further $225 million milestone on U.S. commercial launch plus high-teens-to-low-twenties royalties on Nuvaxovid net sales.

•3d ago

Novavax Earns $125 Million Milestone as Sanofi Launches Phase 3 Influenza-COVID-19 Combination Vaccine Trial in Europe

Novavax earned a $125 million milestone payment after Sanofi dosed the first patients in its Phase 3 trial of an influenza-COVID-19 combination vaccine in Europe using Novavax's Nuvaxovid. The trial pairs Sanofi's Efluelda/Fluzone High-Dose flu vaccine with Nuvaxovid in adults 60 and older; Novavax remains eligible for a further $75M milestone on manufacturing transfer (mid-2027) and $225M on a U.S. launch, plus royalties. The CEO noted the Sanofi partnership has generated over $1 billion in revenue for Novavax to date, and the combined flu-COVID market exceeds $10 billion. Key execution risk: Novavax depends exclusively on Serum Institute of India for co-formulation and filling, and additional U.S. studies may be required for regulatory filings.

•10d ago

Novavax's Partnership Strategy Continues to Deliver with XFG-adapted Nuvaxovid™ Approvals in the U.S., EU and Japan for 2026-2027 Vaccination Season

Novavax's partners Sanofi and Takeda have secured regulatory approvals for the XFG-adapted Nuvaxovid vaccine for the 2026-2027 season in the U.S., EU, and Japan. These clearances enable Novavax to earn royalties on net sales without maintaining its own commercial infrastructure, reinforcing its asset-light partnership strategy. Takeda has established Nuvaxovid as the second-leading COVID-19 vaccine in Japan, while Sanofi prepares for expanded marketing efforts in the U.S. and new launches in Germany and Canada.

•2mo ago

Novavax Reports Second Quarter 2026 Financial Results and Operational Highlights

Novavax reported Q2 revenue of $57 million, down 76% year-over-year, but raised its full-year 2026 revenue framework to $235-$275 million and improved its expense guidance. The Sanofi partnership is progressing with advanced discussions for a Phase 3 combination vaccine trial, expected to trigger a $125 million milestone, and a mid-2027 tech transfer milestone worth $75 million. Cash position remains strong at $724 million as the company advances its C. difficile program and explores Matrix-M applications in oncology.

•3mo ago

Novavax Reports First Quarter 2026 Financial Results and Operational Highlights

Novavax reported Q1 2026 revenue of $140 million, down 79% year-over-year, driven by the expected wind-down of direct Nuvaxovid sales as Sanofi takes over commercialization. Operational highlights include the realization of a $30 million upfront payment from Pfizer following a January licensing deal for Matrix-M, with potential for up to $500 million in future milestones. The company reaffirmed its full-year 2026 financial guidance and tightened its 2028 expense target to $150-$200 million, reflecting significant progress on its cost reduction program and pivot to a lean, partnership-driven model.

•6mo ago