Fourth Quarter and Full Year 2025 Financial Results and Operational Highlights February 26, 2026 © 2026 NOVAVAX. All rights reserved This presentation includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. These forward-looking statements address various matters including Novavax's corporate st ...

Skip to main content Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv Novavax raises 2026 adjusted revenue outlook on strength in vaccine deals Earlier this month, the U.S. Food and Drug Administration initially refused to review rival Moderna's (MRNA.O), opens new tab mRNA-based flu vaccine, then reversed course a week later after the company amended its application. The biotech now expects 2026 adjusted revenue of $230 million to $270 million, up from its prio ...

Pfizer agreement announced in January 2026 for non-exclusive license to utilize Matrix-M® in two infectious disease areas Multiple Material Transfer Agreements signed in 2025 and Q1 2026 with pharmaceutical companies, including major global pharmaceutical companies exploring the utility of Matrix-M for their vaccine portfolios Successful execution of Sanofi partnership with $225 million in milestones earned in full year 2025 Total revenue of $147 million in the fourth quarter of 2025 and $1.1 billion for th ...

Novavax to Report Fourth Quarter and Full Year 2025 Financial Results on February 26, 2026 [Accessibility Statement] Skip NavigationGAITHERSBURG, Md., Feb. 19, 2026 /PRNewswire/ -- Novavax, Inc. (Nasdaq: NVAX) today announced it will report its fourth quarter and full year 2025 financial results and operational highlights at 8:30 a.m. Eastern Time (ET) on Thursday, February 26, 2026. Details of the event and replay are as follows:Conference call details:Date:February 26, 2026Time:8:30 a.m. ETURL to register ...

Company Performance - Novavax (NVAX) closed at $8.97, reflecting a +2.51% increase from the previous day, outperforming the S&P 500 which had a daily loss of 0.01% [1] - Over the past month, Novavax shares gained 0.92%, while the Medical sector and S&P 500 experienced losses of 1.31% and 0.28% respectively [1] Earnings Expectations - The upcoming earnings report for Novavax is expected to show an EPS of -$0.66, a decline of 29.41% compared to the same quarter last year [2] - Revenue is anticipated to be $78.41 million, indicating an 11.21% decrease from the same quarter of the previous year [2] Full-Year Estimates - Zacks Consensus Estimates project full-year earnings of $1.94 per share and revenue of $1.05 billion, representing year-over-year increases of +257.72% and +54.62% respectively [3] Analyst Forecast Revisions - Recent revisions to analyst forecasts for Novavax are important as they reflect short-term business trends, with positive revisions indicating analysts' confidence in the company's performance [4] Zacks Rank System - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), has shown that 1 ranked stocks have yielded an average annual return of +25% since 1988 [6] - Novavax currently holds a Zacks Rank of 3 (Hold), with a 9.04% increase in the Zacks Consensus EPS estimate over the last 30 days [6] Industry Context - Novavax operates within the Medical - Biomedical and Genetics industry, which has a Zacks Industry Rank of 84, placing it in the top 35% of over 250 industries [7] - Strong individual industry groups, as measured by the Zacks Industry Rank, tend to outperform weaker groups by a factor of 2 to 1 [7]

Group 1 - Pfizer Inc. is set to release its fourth-quarter earnings results on February 3, with analysts expecting earnings of 57 cents per share, a decrease from 63 cents per share in the same period last year [1] - The consensus estimate for Pfizer's quarterly revenue is $16.83 billion, down from $17.76 billion a year earlier [1] Group 2 - Novavax, Inc. announced a license agreement with Pfizer for the use of its Matrix-M adjuvant on January 20 [2] - Following the announcement, Pfizer's shares increased by 1.4%, closing at $26.44 [2]

Core Insights - Novavax, Inc. is recognized as a high growth small-cap stock, ranking second on a recent list of profitable high growth stocks [1] - Bank of America (BofA) raised its price target for Novavax to $7 from $6 while maintaining an Underperform rating, following a licensing deal with Pfizer for its Matrix-M adjuvant [2] - Despite the positive interest indicated by the licensing agreement, BofA remains cautious about the timing of development for the licensed assets [2] - Unusually strong bullish options activity was observed for Novavax, with call trading at three times normal levels and implied volatility increasing to above 71% [3] - Novavax is focused on developing vaccines for serious infectious diseases, including COVID-19 and influenza, utilizing its recombinant protein platform and Matrix-M adjuvant [4]

Core Insights - Moderna, Inc. (MRNA) and Novavax, Inc. (NVAX) were highly discussed stocks in the biotech, pharma, and healthcare sectors five years ago, indicating their significant market presence and investor interest [1]. Group 1 - The investing group Haggerston BioHealth, led by a biotech consultant with over five years of experience, provides detailed reports on more than 1,000 companies in the biotech, healthcare, and pharma industries [1]. - Haggerston BioHealth offers insights into catalysts for investment decisions, including buy and sell ratings, product sales forecasts, and integrated financial statements [1]. - The group also conducts discounted cash flow analysis and market-by-market analysis for major pharmaceutical companies [1].

Group 1 - Moderna, Inc. (MRNA) and Novavax, Inc. (NVAX) were highly discussed stocks in the biotech, pharma, and healthcare sectors five years ago [1] - The Haggerston BioHealth investing group provides insights for both novice and experienced biotech investors, including catalysts, buy and sell ratings, product sales forecasts, and integrated financial statements [1] Group 2 - The Haggerston BioHealth group has compiled detailed reports on over 1,000 companies in the biotech, healthcare, and pharma industries [1] - The group offers market-by-market analysis and discounted cash flow analysis for major pharmaceutical companies [1]

Core Viewpoint - Novavax has experienced a significant decline in market value over the past five years, losing more than 90% despite successfully launching a coronavirus vaccine later than expected, which has affected its competitiveness in the market [1] Group 1: Recent Developments - Novavax's shares have increased by 28% in 2026 following a licensing deal with Pfizer for its Matrix-M adjuvant technology [2] - The licensing agreement with Pfizer includes an upfront payment of $30 million, potential milestone payments of up to $500 million, and royalties on future approved products utilizing the adjuvant technology [3] - This is not the first licensing deal for Novavax's Matrix-M platform, as Sanofi also entered a similar agreement two years prior [4] Group 2: Revenue and Market Challenges - Novavax's revenue has been inconsistent, and changes in U.S. regulatory recommendations regarding coronavirus vaccine eligibility may hinder future sales [5] - Sanofi will lead commercialization efforts for Novavax's vaccine in the U.S. and other markets, with Novavax receiving royalties on sales, but the revenue outlook remains uncertain [6] - The market for coronavirus vaccines is unpredictable, and Novavax's financial success may depend on the performance of pipeline products from Pfizer or Sanofi that utilize its adjuvant technology [7] Group 3: Internal Developments - Novavax is also working on developing several vaccines internally, including a flu vaccine and a combination coronavirus/flu vaccine [8] - Phase 3 studies for these candidates were placed on clinical hold in October 2024 due to suspected adverse reactions, which has delayed progress despite the hold being lifted [8]