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

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

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 Stock Up 0.5%

Shares of Novavax stock traded up $0.04 during trading hours on Thursday, hitting $7.74. The company’s stock had a trading volume of 4,891,277 shares, compared to its average volume of 3,037,476. The business has a fifty day moving average of $8.79 and a 200 day moving average of $8.98. Novavax has a 1-year low of $6.20 and a 1-year high of $11.97. The company has a market capitalization of $1.27 billion, a PE ratio of -13.34 and a beta of 2.46.

Novavax News Summary

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

Hedge Funds Weigh In On Novavax

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP purchased a new stake in shares of Novavax during the third quarter worth about $33,000. State of Wyoming bought a new position in Novavax during the 2nd quarter valued at $52,000. Danske Bank A S acquired a new position in Novavax during the 3rd quarter worth $64,000. Dimensional Fund Advisors LP acquired a new position in Novavax during the 4th quarter worth $75,000. Finally, Williams Jones Wealth Management LLC. acquired a new position in Novavax during the 4th quarter worth $77,000. Hedge funds and other institutional investors own 53.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NVAX. Weiss Ratings restated a “sell (d)” rating on shares of Novavax in a research report on Tuesday. Wall Street Zen cut shares of Novavax from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. BTIG Research reissued a “buy” rating and set a $19.00 price objective on shares of Novavax in a research note on Thursday, June 11th. B. Riley Financial restated a “buy” rating on shares of Novavax in a research report on Thursday, April 9th. Finally, TD Cowen increased their target price on Novavax from $8.00 to $9.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. One 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.