Novavax(US:NVAX) Prnewswire·2025-11-06 13:00Core Insights - Novavax reported a total revenue of $70 million for Q3 2025, a decrease of 18% compared to $85 million in Q3 2024, primarily due to a significant drop in Nuvaxovid sales [3][7][23] - The company is focusing on optimizing partnerships, particularly with Sanofi, and enhancing its technology platform to drive long-term growth and profitability [2][5][20] Financial Performance - Nuvaxovid sales were $0 in Q3 2025, down from $38 million in Q3 2024, while supply sales increased to $14 million from $3 million [3][7] - Product sales decreased by 68% to $13 million from $41 million year-over-year [3][7] - Sanofi partnership revenue increased by 33% to $48 million from $36 million [3][7] - Total expenses for Q3 2025 were $248 million, compared to $219 million in Q3 2024, with R&D expenses rising to $98 million from $87 million [7][23] Strategic Initiatives - The company achieved $225 million in milestones from its partnership with Sanofi year-to-date, including $50 million from marketing authorization transfers [5][6] - Sanofi reported positive Phase 1/2 data for Nuvaxovid in combination with its influenza vaccines, which received Fast Track designation from the FDA [6][20] - Novavax is pursuing government funding for a pandemic influenza vaccine candidate and exploring its Matrix-M platform technology in oncology [6][20] Future Guidance - Novavax raised its full-year 2025 revenue framework, expecting adjusted total revenue between $1,040 million and $1,060 million [9][10] - The company anticipates combined R&D and SG&A expenses of $505 million to $535 million for the full year 2025 [8][10] - The transition of lead commercial responsibility for Nuvaxovid to Sanofi is expected to impact revenue forecasts, which are not included in the full-year guidance [9][15]