Novavax raised its full-year 2026 revenue guidance to between $235 million and $275 million, driven by strong demand for its Matrix-M adjuvant from commercial partners. The company reported a net loss of $53 million in the second quarter on total revenue of $57 million, a sharp decline from $239 million a year earlier due to the absence of one-time milestone payments. Novavax is on track to reduce operating expenses by approximately 90% from peak levels and reiterated its goal of reaching non-GAAP profitability as early as 2028. The Sanofi partnership is advancing, with Sanofi in advanced regulatory discussions for a Phase 3 combination COVID-19/influenza vaccine study, which would trigger a $125 million milestone payment. Novavax also expects a $75 million manufacturing tech transfer milestone from Sanofi by mid-2027, extending its cash runway into 2029.
Novavax IncRaised 2026 revenue guidance on strong Matrix-M demand from partners.
Pfizer Inc
Sanofi SASanofi partnership advancing with milestones and Phase 3 study plans.
