Core Insights - Novavax Inc. has experienced significant volatility in its stock price, driven by the performance and market reception of its COVID-19 vaccine, Nuvaxovid, and a recent licensing deal with Sanofi [1][3][4] Group 1: Company Overview - Novavax is a biotechnology company focused on developing vaccines for serious infectious diseases, with its primary product being the COVID-19 vaccine, Nuvaxovid [1] - The company has been in operation for 35 years but has only received FDA approval for its COVID-19 vaccine [5] Group 2: Stock Performance - Novavax shares peaked at $331.68 in February 2021 but fell to $3.53 by February 2024 due to operational missteps [1] - Following a $1.2 billion licensing deal with Sanofi, shares surged to $23.86 in June 2024 before dropping below $10.00 after the Q2 2024 earnings report [1][3] Group 3: Sanofi Licensing Deal - The deal with Sanofi includes an upfront payment of $500 million and potential additional revenues of up to $770 million based on development milestones [4] - Sanofi will take a 5% equity stake in Novavax for $70 million and will license Novavax's adjuvanted COVID-19 vaccine starting in 2025 [4] Group 4: Financial Performance - Novavax reported Q2 2024 EPS of 9 cents, missing consensus estimates by 68 cents, with revenues dropping 2.1% year-over-year to $415.5 million [7] - Product sales for Q2 2024 were $19.9 million, a significant decrease from $285.2 million in the same period the previous year [7] Group 5: Future Developments - Novavax is developing a combination COVID-Influenza vaccine, expected to enter Phase 3 clinical studies, and has a preclinical RSV vaccine in development [5] - The company has filed for FDA approval for its updated COVID-19 vaccine targeting specific variants and is anticipating lower vaccine deliveries in 2024, adjusting its revenue guidance to $700 million to $800 million [9][10]

Novavax (NVAX) posted earnings per share of 99 cents in second-quarter 2024, missing the Zacks Consensus Estimate of $1.82. However, earnings rose 71% year over year. Revenues in the quarter amounted to $415.5 million, also missing the Zacks Consensus Estimate of $453.7 million. The top line declined 2% on a year-over-year basis. Quarter in Detail In the reported quarter, the company recorded $19.9 million in product sales compared with $285.2 million in the year-ago quarter. While this reported figure did ...

Novavax, Inc. (NASDAQ:NVAX) Q2 2024 Results Conference Call August 8, 2024 8:30 AM ET Company Participants Erika Schultz - Senior Director of Investor Relations John Jacobs - President and Chief Executive Officer John Trizzino - President and Chief Operating Officer Dr. Bob Walker - Chief Medical Officer and Interim Head of Research and Development Jim Kelly - Chief Financial Officer and Treasurer Conference Call Participants Roger Song - Jefferies Mayank Mamtani - B. Riley Securities Alec Stranahan - Bank ...

Novavax (NVAX) came out with quarterly earnings of $0.99 per share, missing the Zacks Consensus Estimate of $1.82 per share. This compares to earnings of $0.58 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -45.60%. A quarter ago, it was expected that this vaccine maker would post a loss of $1.04 per share when it actually produced a loss of $1.05, delivering a surprise of -0.96%. Over the last four quarters, the company has ...

Core Insights - Novavax reported total revenue of $415 million for Q2 2024, a slight decrease from $424 million in Q2 2023, and ended the period with $1.1 billion in cash [1][12] - The company has filed for authorization of its updated COVID-19 vaccine for the 2024-2025 season with the U.S. FDA and EMA [1] - Novavax received a total of $570 million in upfront payment and equity investment from Sanofi, marking significant progress in their partnership [1][5] Financial Performance - Total revenue for Q2 2024 was $415 million, down from $424 million in Q2 2023, with licensing and royalties contributing $391 million from the Sanofi agreement [12] - Cost of sales decreased to $46 million in Q2 2024 from $56 million in Q2 2023, while R&D expenses dropped significantly to $107 million from $219 million [12] - Net income for Q2 2024 was $162 million, compared to $58 million in the same period last year [12] Strategic Priorities - Priority 1: Successful execution of the Sanofi partnership, with Sanofi set to assume primary commercial responsibility for Novavax's updated COVID-19 vaccine starting January 1, 2025 [4][5] - Priority 2: Driving incremental value from Novavax's technology platform, with plans to initiate Phase 3 trials for COVID-19-Influenza Combination and standalone influenza vaccines in Q4 2024 [6] - Priority 3: Continued evolution of the company and reduction of operating expenses, targeting combined R&D and SG&A expenses below $500 million for 2025 [7][8] - Priority 4: Delivering the updated COVID-19 vaccine for the 2024-2025 vaccination season [9] Market Activities - In the U.S., Novavax submitted an Emergency Use Authorization amendment and is advancing manufacturing for the updated COVID-19 vaccine [10] - In global markets, the company plans a lean commercial launch in select European countries, including Germany, Italy, and Poland [11] Future Guidance - Novavax updated its full-year 2024 financial guidance, expecting combined R&D and SG&A expenses to be in the range of $700 million to $750 million [13] - The company anticipates total revenue for 2024 to be between $700 million and $800 million, factoring in the Sanofi agreement payments [14]

In the latest market close, Novavax (NVAX) reached $12.57, with a -1.87% movement compared to the previous day. The stock's performance was behind the S&P 500's daily loss of 1.37%. On the other hand, the Dow registered a loss of 1.21%, and the technology-centric Nasdaq decreased by 2.3%. The vaccine maker's shares have seen an increase of 2.07% over the last month, surpassing the Medical sector's gain of 0.74% and the S&P 500's gain of 1.11%. Investors will be eagerly watching for the performance of Novava ...

GAITHERSBURG, Md., Aug. 1, 2024 /PRNewswire/ -- Novavax, Inc. (Nasdaq: NVAX), a global company advancing protein-based vaccines with its Matrix-M™ adjuvant, today announced it will report its second quarter 2024 financial results and operational highlights at 8:30 a.m. Eastern Time (ET) on Thursday, August 8, 2024. Details of the event and replay are as follows: Conference call details: Date: August 8, 2024 Time: 8:30 a.m. U.S. ET URL to register phone: https://emportal.ink/3XTduSS Dial-in number: (800) 836 ...

Earlier, Novavax received a substantial financial boost due to its strategic partnership with French pharmaceutical and healthcare firm Sanofi (NASDAQ:SNY). The partnership – inked on May 10 – centers on a Covid vaccine program called Nuvaxovid and involved a $500 million upfront milestone payment, alleviating "concerns about the company's financial stability." However, the belief among JPMorgan analysts now is that, prior to today's implosion, NVAX stock prices "substantially overvalue" the sales that Nuva ...

Investment Overview Novavax Seals Sensational Sanofi Deal In Q1 2024 Prior to Q1 earnings Novavax had warned investors that "conditions or events existed that raised substantial doubt about our ability to continue as a going concern" - the reasons for this can be traced to its failure to establish its COVID vaccine, Nuvaxovid, alongside Moderna's (MRNA) Spikevax and Pfizer's (PFE) Comirnaty as a preferred vaccine option for major governments' - here is what I wrote in May: Novavax is arguably best known for ...

Zacks Investment Research Image Source: This surge in share price can be attributed to Novavax's recently signed multi-billion dollar deal with pharma giant Sanofi (SNY) to market its protein-based COVID-19 vaccine and also use it to develop novel COVID-19- influenza combination vaccines. The positive cashflows generated from this deal were a major reason that the company removed its 'going concern' warning. Solid Partner in Sanofi The collaboration deal with Sanofi likely breathes new life for Novavax, whi ...