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

$1.57B

P/E (TTM)

3.5

17.7

Dividend Yield

52W High

$11.97

52W Low

$5.01

52W Range

66%

Rank58Top 85.6%

2.3

F-Score

Modified Piotroski Analysis

Based on 10-year fundamentals

Weak • 2.3 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2016-2025

Financial Dashboard

Q4 2025 Data

Revenue

$147.14M+0.00%

4-Quarter Trend

EPS

$0.11+0.00%

4-Quarter Trend

FCF

-$41.55M+0.00%

4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Revenue Jumps $441M Total revenue reached $1.12B in 2025, driven by $471.8M product sales increase; operating loss reversed to $440.3M net income.

Product Sales Surge Product sales hit $685.0M in 2025, up $471.8M, largely due to APA terminations and Nuvaxovid sales growth.

Major Pfizer Licensing Deal Signed Matrix-M license with Pfizer in January 2026, securing $30M upfront and potential $500M milestones plus tiered royalties.

Sanofi Milestone Achievement Earned $225M in Sanofi milestones during 2025, including $50M upon EU/US marketing authorization transfers completion.

Risk Factors

Profitability and Funding Needs History of losses continues; significant funding required to maintain operations and advance pipeline development efforts.

Clinical Development Uncertainty Vaccine development is lengthy, expensive process; prior trial results are not predictive of future success or regulatory outcomes.

Debt Servicing Cash Drain Servicing 2031 and 2027 Convertible Notes requires significant cash flow; flexibility limited by Credit Agreement covenants.

Third-Party Reliance Risks Heavy dependence on third parties for manufacturing and clinical trials increases risk of delays or impaired commercialization efforts.

Outlook

Pipeline Expansion Strategy Advancing pipeline programs focusing on high-value assets beyond infectious diseases, leveraging Matrix-M technology platform.

Seeking Influenza Vaccine Partners Phase 3 data for CIC and stand-alone influenza candidates support seeking partners to advance future registrational programs.

Financing Operations Strategy Future operations funded by milestones, royalties, and potential debt or equity financings; profitability remains uncertain.

Maintain Strong IP Portfolio Continue filing and prosecuting patent applications to protect proprietary rights related to vaccine products and Matrix-M adjuvant technology.

Peer Comparison

Revenue (TTM)

NVAX

$1.12B

+64.7%

BCRX

$874.84M

+94.1%

HRMY

$868.45M

+21.5%

Gross Margin (Latest Quarter)

SNDX

102.3%

-13.9pp

NKTR

100.0%

+18.4pp

CVAC

99.3%

+0.2pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
TERN	$4.36B	-47.0	-30.0%	0.3%
EWTX	$3.12B	-17.8	-32.0%	0.7%
WVE	$2.21B	-10.4	-85.0%	2.8%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

-39.6%

Growth Under Pressure

4Q Net Income CAGR

-67.7%

Declining Profitability

Cash Flow Stability

25%

Cash Flow Needs Attention

Deep Research

Next earnings:May 6, 2026

EPS:-

Revenue:-

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data