Business
Novavax Reports First Quarter 2022 Financial Results and Operational Highlights
Achieved revenue of $704 million and net income of $203 million highlighting the first profitable quarter as a commercial stage companyReiterating full year
About this update from Novavax, Inc.
[{"type":"text","content":"Achieved revenue of $704 million and net income of $203 million highlighting the first profitable quarter as a commercial stage companyReiterating full year 2022 total revenue guidance of between $4 and $5 billionContinued label expansion including primary, booster and adolescent authorizations and new shipments of Nuvaxovid™ into European Union, Canada, South Korea, Australia Thailand, Singapore and New Zealand Submitted request for EUA to U.S. FDA for NVX-CoV2373, with FDA Advisory Committee meeting scheduled for June 7th Announced positive Phase 1/2 results of COVID-19-Influenza Combination vaccine candidate confirming feasibility of approach Company to host conference call today at 4:30 p.m. ETGAITHERSBURG, Md., May 9, 2022 /PRNewswire/ -- Novavax, Inc. (NASDAQ: NVAX), a biotechnology company dedicated to developing and commercializing next-generation vaccines for serious infectious diseases, today announced its financial results and operational highlights for the first quarter ended March 31, 2022.\n\"Novavax has been successful in launching our protein-based COVID-19 vaccine worldwide and executing on our plans for ongoing label expansions for pediatrics and homologous and heterologous boosting. Reinforced by our first profitable quarter, with $704 million in revenue, we are continuing our robust commercial rollout.\" said Stanley C. Erck, President and Chief Executive Officer, Novavax. \"Importantly, as new variants have emerged, we have progressed our strategy to be ready to address the dynamic environment and continue development beyond COVID-19 with our COVID-19-Influenza Combination vaccine candidate.\" \nFirst Quarter 2022 and Recent Highlights\nExpanded Worldwide Authorizations for COVID-19 Primary and Booster Vaccination in Adult Population Aged 18+ \nReceived manufacturing and marketing approval with our partner Takeda Pharmaceutical Company Limited, in Japan for Nuvaxovid for primary, heterologous and homologous boosting indicationsGranted authorization (emergency use, provisional, interim or conditional) for Nuvaxovid in Great Britain, Canada, Australia, Switzerland, Singapore and New ZealandReceived full regulatory approval for Nuvaxovid in South Korea with our partner SK bioscience, becoming the first protein-based vaccine approved in South KoreaGranted emergency use authorization (EUA) for Covovax™ with our p...