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.
Key figures
- Revenue
- 68298000
- Guidance
- FY26 Non-GAAP Adjusted Total Revenue raised by $145M to $385-$415M ($400M midpoint, from $235-$275M); Combined R&D+SG&A expense $375-$395M improved by $5M at midpoint; Non-GAAP Combined R&D+SG&A $315-$335M
- Revenue Yoy
- -3%
- Net loss
- 31376000
- Product sales
- 25693000
- Product sales yoy
- 91%
- Prior year net loss
- 202379000
- Sanofi cic milestone
- 125000000
- Nuvaxovid royalty rate
- high teens to low twenties % of Sanofi global net sales
- Non gaap rnd and sga q3
- 72300000
- Future sanofi milestones
- ["$75M technology transfer (mid-2027)","$225M U.S. CIC commercial launch"]
- Cash and marketable securities
- 627000000
AI analysis
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