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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.
Novavax
Novavax
Novavax Revenue by Segment
Revenue by Segment
Product sales Revenue
CapyFin.comLicensing, royalties, and other Revenue
CapyFin.com 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