Novavax Reports Narrower Q4 Loss and Strategic Shift Away from COVID-19 Vaccine Commercialization

The biotech company plans to focus on licensing its technology and expanding its vaccine pipeline after declining sales of its COVID-19 vaccine.

Novavax reported Q4 2024 revenue of $88.31 million, down from $291 million a year ago, but slightly above Wall Street estimates of $84.35 million.
The company posted a quarterly loss of $0.51 per share, beating the expected $0.75 loss, with reduced expenses contributing to the narrower loss.
Novavax is transitioning its COVID-19 vaccine commercialization to Sanofi for select markets, with royalties expected in the high teens to low twenties percent on future sales.
The company is shifting its strategy to focus on licensing its Matrix-M adjuvant technology and developing new vaccine candidates, including a COVID-flu combination and a bird flu vaccine in preclinical stages.
Novavax ended 2024 with over $1 billion in cash and receivables, bolstered by the sale of a Czech Republic manufacturing facility to Novo Nordisk for $200 million.