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.
Key figures
- Revenue
- $140 million
- Guidance
- FY2026 Adjusted Total Revenue $230M-$270M (reiterated); Non-GAAP Combined R&D and SG&A $310M-$340M (reiterated). FY2028 Non-GAAP Combined R&D and SG&A target improved to $150M-$200M.
- Revenue Yoy
- -79%
- Net loss
- -$9 million
- Rd expenses
- $95 million
- Sga expenses
- $29 million
- Cash position
- $795 million
- Pfizer upfront
- $30 million
- Adjusted total revenue q1
- $118.9 million
- Pfizer milestone potential
- $500 million
AI analysis
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