Novavax raises 2026 adjusted revenue outlook on strength in vaccine deals

Core Insights - Novavax has raised its adjusted revenue forecast for 2026 to between $230 million and $270 million, up from a previous estimate of $185 million to $205 million, driven by expected milestone payments from vaccine supply and licensing deals [2][5] - The company reported a fourth-quarter profit of $18 million, a significant turnaround from a net loss of $81 million in the same quarter the previous year, aided by cost cuts and licensing agreements [2][6] - Novavax anticipates reaching profitability by 2028, supported by key product launches, including a COVID-flu combination vaccine developed in partnership with Sanofi [4][5] Revenue and Financial Performance - Fourth-quarter revenue increased by 67% to $147 million, surpassing analysts' expectations of $78.84 million [5] - The adjusted revenue forecast for 2026 reflects a positive outlook despite challenges from declining demand for COVID-19 vaccines [2][3] Strategic Partnerships and Developments - Novavax has licensed its Matrix-M adjuvant technology to Pfizer for up to $530 million, indicating strong interest in its technology [5] - The company is navigating a changing regulatory landscape and has expressed optimism about future vaccine approvals, as seen with the recent developments regarding Moderna's flu vaccine [3][4]