Loading...
•
Dec 31, 2024
Novavax Q4 2024 Earnings Report
Novavax reported Q4 2024 financial results, highlighting a revenue of $88 million, a net loss of $81 million, and the progression of strategic partnerships and pipeline programs.
Key Takeaways
Novavax reported fourth-quarter revenue of $88 million and a net loss of $81 million. The company is focusing on leveraging its technology platform through partnerships and pipeline expansion, including the transition of its COVID-19 vaccine commercialization to Sanofi and advancing its COVID-19-Influenza Combination vaccine candidate.
Transitioned lead commercial responsibility of Nuvaxovid COVID-19 vaccine to Sanofi starting with the 2025-2026 season.
Achieved total revenue of $88 million in the fourth quarter of 2024 and $682 million for the full year.
Achieved $50 million milestone under the Sanofi agreement associated with the pediatric clinical trial database lock.
Completed $200 million sale of Czech Republic manufacturing facility to Novo Nordisk, reducing annual costs by approximately $80 million.
Novavax
Novavax
Novavax Revenue by Segment
Revenue by Segment
Product sales Revenue
CapyFin.comLicensing, royalties, and other Revenue
CapyFin.com Forward Guidance
Novavax expects to achieve Adjusted Licensing, Royalties and Other Revenue of between $300 million to $350 million for the full year 2025.
Positive Outlook
- Eligible to receive a $175 million milestone payment upon the approval of the COVID-19 U.S. BLA, inclusive of JN.1 and pre-filled syringe presentation.
- Eligible for two $25 million milestone payments upon the transfer to Sanofi of the Market Authorization for the U.S. and EU markets, respectively.
- Expected to record $15 million in revenue related to the COVID-19 pediatric database lock milestone from Sanofi.
- Expected to record $35 million in revenue related to the upfront payment from Sanofi.
- Eligible to receive $25 million to $50 million of R&D reimbursement under the Sanofi CLA.
Challenges Ahead
- Sanofi royalties guidance is not available at this time.
- Sanofi CIC and Matrix-M milestones guidance is not available at this time.
- Product sales guidance is not available at this time.
- Revenue components reliant on Sanofi's sales forecasts are not included in the 2025 Revenue Framework.
- Uncertainty regarding the timing and outcome of negotiations related to existing advance purchase agreements.