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Jun 30, 2024
Novavax Q2 2024 Earnings Report
Reported total revenue of $415 million and ended the period with $1.1 billion in cash.
Key Takeaways
Novavax reported second quarter revenue of $415 million, driven by a $391 million upfront payment from Sanofi. The company is progressing with its Sanofi partnership and plans to initiate Phase 3 trials for its COVID-19-Influenza Combination and stand-alone influenza vaccines in Q4 2024.
Achieved total revenue of $415 million in Q2 2024 and ended the period with $1.1 billion in cash.
Filed with the U.S. FDA and EMA for authorization of updated 2024-2025 formula COVID-19 vaccine.
Received $570 million in upfront payment and equity investment from Sanofi; progressed operationalization of Sanofi partnership.
Phase 3 trial initiation for COVID-19-Influenza Combination and stand-alone influenza vaccines planned for Q4 2024; data expected by mid-2025.
Revenue by Segment
Forward Guidance
Novavax updated its Full Year 2024 Financial Guidance and expects to achieve the following objectives.
Positive Outlook
- Combined Revenue and Sanofi Agreement Payments $970 - $1,170 million
- Total Revenue $400 - $600 million
- Product Sales $275 - $375 million
- Initial Sanofi Agreement Payments ~$570 million
- Licensing, Royalties and Other Revenue ~$425 million
Challenges Ahead
- Combined R&D and SG&A $700 - $750 million
- Challenges related to Novavax’s new partnership with Sanofi
- Challenges or delays in obtaining regulatory authorization for its product candidates
- Manufacturing, distribution or export delays or challenges
- Challenges in implementing its global restructuring and cost reduction plan and additional cost reduction program
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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