Milestones Over Sales: The Sanofi Partnership Now Drives Novavax’s Outlook (NASDAQ:NVAX)

Core Insights - Novavax, Inc. reported a 3Q25 GAAP EPS loss of –$1.25, which was $0.33 below estimates [1] - Revenue for the quarter was $70.45 million, exceeding expectations by $25.58 million, despite a year-over-year decline of 16.6% [1] Financial Performance - The GAAP EPS loss of –$1.25 indicates financial challenges for the company [1] - Revenue of $70.45 million represents a significant beat against expectations, highlighting some operational resilience despite the decline [1] Market Context - The decline in revenue year-over-year by 16.6% suggests ongoing difficulties in the market environment for Novavax [1]