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Novavax, Inc.

Novavax, Inc.

NASDAQ•NVAX
CEO: Mr. John Charles Jacobs M.B.A.
Sector: Healthcare
Industry: Biotechnology
Listing Date: 1995-12-05
Novavax, Inc., a biotechnology company, that promotes improved health by discovering, developing, and commercializing vaccines to protect against serious infectious diseases. It offers vaccine platform that combines a recombinant protein approach, nanoparticle technology, and its patented Matrix-M adjuvant to enhance the immune response. It focuses on urgent health challenges, which is evaluating vaccines for COVID-19, influenza, and COVID-19 influenza combination. The company is commercializing a COVID-19 vaccine, NVX-CoV2373 under the brand names of Nuvaxovid, Covovax, and Novavax COVID-19 Vaccine, adjuvanted for adult and adolescent populations as a primary series and for both homologous and heterologous booster indications. It is also developing R21/Matrix-M adjuvant malaria vaccine. Novavax, Inc. was incorporated in 1987 and is headquartered in Gaithersburg, Maryland.
Contact Information
700 Quince Orchard Road, Gaithersburg, MD, 20878, United States
240-268-2000
global.novavax.com
Market Cap
$1.28B
P/E (TTM)
3.0
16.6
Dividend Yield
--
52W High
$11.55
52W Low
$5.01
52W Range
44%
2.1
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 2.1 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q2 2025 Data

Revenue

$239.24M-42.42%
4-Quarter Trend

EPS

$0.66-40.77%
4-Quarter Trend

FCF

-$127.71M-141.04%
4-Quarter Trend

2025 Q2 Earnings Highlights

Key Highlights

Six Month Net Income Surge Net income reached $625.2M for six months, up significantly from $14.8M in prior year period due to revenue shifts.
Total Revenue Increased Substantially Six-month total revenue grew $396.6M to $905.9M, driven by APA terminations and milestone recognition.
Operating Expenses Significantly Reduced Total expenses dropped $203.9M to $289.3M for six months, reflecting ongoing global restructuring efforts.
Sanofi Milestone Payment Received FDA BLA approval triggered a $175.0M milestone payment from Sanofi in the current quarter.

Risk Factors

Liquidity Position Deteriorated Cash, equivalents, and restricted cash decreased to $269.0M from $695.6M year-to-date, requiring future financing.
Reliance on Partner Obligations Success depends on satisfying performance obligations under APAs; failure risks refunds or agreement termination impacting liquidity.
Regulatory Pathway Uncertainty Evolving regulatory pathway for COVID-19 Vaccine, including postmarketing commitments, poses risks to labeling and future approvals.
Potential APA Refund Exposure Australia APA termination risk could require refunding up to $92.5M of deferred revenue if regulatory deadlines are missed.

Outlook

Complete Sanofi Transition Marketing authorization transfers to Sanofi for US/EU markets expected in Q4 2025, triggering additional $50M milestones.
Advance Early-Stage Pipeline Continue preclinical work on H5N1 avian flu, RSV, shingles, and C. Diff candidates; seeking partners for late-stage assets.
Conduct Phase 4 PMC Trial Initiate Phase 4 postmarketing commitment trial with Sanofi support in Q4 2025 to evaluate efficacy in older adults.
Optimize Global Footprint Continue global restructuring, focusing on optimizing real estate portfolio in Gaithersburg to improve long-term financial performance.

Peer Comparison

Revenue (TTM)

Novavax, Inc.NVAX
$1.08B
+31.1%
Harmony Biosciences Holdings, Inc.HRMY
$772.53M
+17.7%
BioCryst Pharmaceuticals, Inc.BCRX
$599.82M
+45.4%

Gross Margin (Latest Quarter)

Zymeworks Inc.ZYME
100.0%
+13.1 pp
BioCryst Pharmaceuticals, Inc.BCRX
98.6%
+1.4 pp
Syndax Pharmaceuticals, Inc.SNDX
95.4%
-4.6 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
EWTX$1.89B-12.5-30.6%0.7%
AUPH$1.73B30.216.7%16.3%
HRMY$1.69B9.326.3%15.5%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
+41.5%
Strong Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
0%
Cash Flow Needs Attention

Research & Insights

Reports
All Years

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 6, 2025|
    Revenue: $239.24M-42.4%
    |
    EPS: $0.66-40.8%
    Beat

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 8, 2025|
    Revenue: $666.66M+610.3%
    |
    EPS: $3.22-406.7%
    Beat

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 27, 2025|
    Revenue: $682.16M+22.6%
    |
    EPS: $-1.23+77.3%
    Miss

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 12, 2024|
    Revenue: $84.51M+283.0%
    |
    EPS: $-0.76-39.7%
    Beat

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 8, 2024|
    Revenue: $415.48M-2.1%
    |
    EPS: $1.11+70.8%
    Miss

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 10, 2024|
    Revenue: $93.86M+15.9%
    |
    EPS: $-1.05-69.2%
    Meet

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 28, 2024|
    Revenue: $556.38M-65.2%
    |
    EPS: $-5.41+35.7%
    Miss

  • Form 10-Q - Q3 2023

    Period End: Sep 30, 2023|Filed: Nov 9, 2023|
    Revenue: $22.06M-97.0%
    |
    EPS: $-1.26-41.4%
    Meet