Novavax (NASDAQ:NVAX) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Novavax (NASDAQ:NVAX) announced its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.06, FiscalAI reports. The business had revenue of $56.70 million during the quarter, compared to the consensus estimate of $52.51 million. Novavax had a negative net margin of 14.73% and a negative return on equity of 14.82%. The company’s revenue for the quarter was down 76.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.62 EPS.

Here are the key takeaways from Novavax’s conference call:

• Sanofi partnership momentum strengthened: Sanofi is in advanced regulatory discussions for a Phase III COVID-19/flu combination vaccine, which could trigger a $125 million milestone, while a manufacturing tech-transfer milestone could add $75 million by mid-2027 and extend Novavax’s cash runway into 2029.
• 2026 financial outlook improved: Novavax raised its adjusted revenue framework to $235 million-$275 million, citing stronger Matrix-M demand and expected Takeda and Serum Institute royalties and milestones, while lowering combined GAAP R&D and SG&A expense guidance by $10 million at the midpoint.
• Matrix-M partnering activity is broadening: Four of the top 10 global pharmaceutical companies now have licensing or material-transfer agreements, covering more than 30 areas of experimentation across infectious disease and oncology. Novavax also signed an oncology-focused MTA with a leading global pharmaceutical company.
• Pipeline progress remains early-stage: The preventive C. difficile vaccine began GMP manufacturing and pre-IND discussions, with potential clinical entry as early as 2027, while oncology data are encouraging but remain primarily mechanistic or preclinical and partner timelines are uncertain.
• Reported results reflect ongoing losses and potential restructuring charges: Second-quarter revenue fell to $57 million from $239 million a year earlier, largely because 2025 included a $202 million milestone and Takeda amendment benefit; Novavax posted a $53 million net loss and flagged up to a $35 million non-cash fixed-asset write-off in 2027.

Novavax Trading Up 0.5%

Shares of NVAX traded up $0.04 during midday trading on Thursday, hitting $7.74. The stock had a trading volume of 4,891,277 shares, compared to its average volume of 3,037,476. Novavax has a fifty-two week low of $6.20 and a fifty-two week high of $11.97. The business has a 50-day simple moving average of $8.79 and a two-hundred day simple moving average of $8.98. The firm has a market cap of $1.27 billion, a P/E ratio of -13.34 and a beta of 2.46.

More Novavax News

Here are the key news stories impacting Novavax this week:

• Positive Sentiment: Novavax reported second-quarter revenue of $56.7 million, exceeding the approximately $52.5 million consensus estimate, while its adjusted loss of $0.32 per share was narrower than analysts expected. Novavax Q2 earnings report
• Positive Sentiment: The company increased its full-year 2026 adjusted revenue framework to $235 million–$275 million from $230 million–$270 million, supported by licensing and milestone-related revenue. Novavax raises 2026 revenue outlook after Q2 beat
• Positive Sentiment: Novavax improved its combined GAAP research and development plus selling, general and administrative expense guidance by $10 million at the midpoint, reinforcing its cost-reduction strategy. It ended June with approximately $724 million in cash, cash equivalents, marketable securities, and restricted cash. Novavax second-quarter financial results
• Positive Sentiment: Sanofi’s collaboration remains a key potential catalyst: manufacturing technology transfer is expected to finish in mid-2027, which would trigger a $75 million milestone payment. Sanofi also plans to advance discussions with regulators on a Phase 3 COVID-19/influenza combination vaccine trial. Novavax lifts annual revenue forecast
• Neutral Sentiment: Management is increasingly focused on licensing its Matrix-M adjuvant and developing additional programs, including a potential C. difficile vaccine entering clinical development as early as 2027. These opportunities could diversify revenue but remain long-term and execution-dependent. Novavax Q2 2026 earnings call transcript
• Negative Sentiment: Revenue declined 76% year over year to $56.7 million, and Novavax posted a $53 million net loss versus $107 million of net income in the prior-year quarter. The results highlight the company’s continuing dependence on partnership payments as COVID-19 vaccine demand weakens. Novavax Q2 revenue falls 76 percent

Institutional Investors Weigh In On Novavax

Hedge funds have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co grew its holdings in Novavax by 58.1% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 18,592 shares of the biopharmaceutical company’s stock worth $125,000 after buying an additional 6,829 shares in the last quarter. Laurel Oak Wealth Management LLC purchased a new position in Novavax in the fourth quarter valued at about $104,000. CIBC Bancorp USA Inc. bought a new position in Novavax during the third quarter valued at $138,000. Scientech Research LLC bought a new position in shares of Novavax during the 3rd quarter worth $96,000. Finally, Teza Capital Management LLC purchased a new position in shares of Novavax in the second quarter worth about $110,000. 53.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NVAX has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Novavax in a research report on Tuesday. Wall Street Zen cut Novavax from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. BTIG Research reiterated a “buy” rating and set a $19.00 price objective on shares of Novavax in a research report on Thursday, June 11th. TD Cowen boosted their price objective on Novavax from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Finally, B. Riley Financial reissued a “buy” rating on shares of Novavax in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $13.00.

About Novavax

Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.

The company’s lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.