Novavax, Inc. · NASDAQ:NVAX
Novavax — Goldman Sachs 46th Annual Global Healthcare Conference (June 2025)
24 slides from Novavax's conference presentation, Jun 11, 2025
Slide 1: Goldman Sachs 46th Annual Global Healthcare Conference
Goldman Sachs 46 th Annual Global Healthcare Conference June 11, 2025 © 2025 NOVAVAX. All rights reserved.
Slide 2: Cautionary Note Regarding Forward-Looking Statements
2 Cautionary Note Regarding Forward - Looking Statements © 2025 NOVAVAX. All rights reserved. This presentation includes forward - looking statements . These forward - looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “
Slide 3: Corporate Growth Strategy
Corporate Growth Strategy New Corporate Growth Strategy is Designed to Deliver Value Through R&D and Partnerships In - house early - stage R&D to build a pipeline of high - value assets using our proven technology Partnerships to drive value creation for our R&D assets and for Matrix - M ® Strategic
Slide 4: Strong Foundation with Future Focus on Innovating and Partnering
4 1st product launch in 2022 WHO authorization of R21/Matrix - M ® malaria vaccine with Oxford University and Serum Institute of India New corporate growth strategy unveiled 2024 2023 Forward Evolution of Business Model to Focus on R&D and Diversified Partnerships COVID - 19 vaccine launched in mult
Slide 5: Technology Platform Fuels Innovation and Partnerships
Technology Platform Fuels Innovation and Partnerships 5 Matrix - M ® Adjuvant Our proprietary adjuvant can be added to vaccines to help induce a stronger, more potent and longer - lasting immune response . 2 Recombinant Protein - based Nanoparticle CLINICALLY PROVEN Our recombinant protein - based n
Slide 6: Strategic Priority: Optimize our Sanofi Partnership
STRATEGIC PRIORITY 1 Optimize our Sanofi Partnership © 2025 NOVAVAX. All rights reserved. 6
Slide 7: Sanofi Partnership has the Potential to Drive Growth Through Multiple Revenue Streams
Sanofi P artnership has the Potential to Drive Growth Through Multiple Revenue Streams 7 License to co - commercialize Novavax’s current stand - alone adjuvanted COVID - 19 vaccine worldwide* License to Novavax’s adjuvanted COVID - 19 vaccine for use in combination with Sanofi’s flu and other vaccin
Slide 8: Sanofi upfront payment, milestones and royalties
$500M upfront payment received in Q2 2024 o $424M recognized in 2024 o $76M amortized over the performance period through 2026 $500 License, Royalties & Other Q2 2024 Upfront Payment and Equity Investment (~$570 Million) Equity investment ~$70 Balance Sheet Q2 2024 Pediatric database lock – revenue
Slide 9: COVID Continues to Cause Severe Illness
COVID Continues to Cause Severe Illness 9 Cumulative COVID hospitalizations rates are ~4x higher than flu 1 © 2025 NOVAVAX. All rights reserved. 1. Respiratory Virus Hospitalization Surveillance Network (RESP - NET) 2. CDC FluVax View, 2023 - 24 3. CDC CovidVax View, 2023 - 24 Yet COVID vaccine cove
Slide 10: Nuvaxovid Tolerability: Real World Evidence
10 Nuvaxovid Tolerability: Real World Evidence - A Consistent, Clear Differentiator versus mRNA Vaccines © 2025 NOVAVAX. All rights reserved. % of Participants with events within 2 days (IPTW adjusted) 0% 20% 40% 60% 80% 100% Fever Fatigue Malaise Muscle pain Joint pain Nausea/vomiting Headache 0% 2
Slide 11: Strategic Priority: Leverage our Technology Platform and Pipeline to Forge Additional Partnerships
STRATEGIC PRIORITY 2 Leverage our Technology Platform and Pipeline to Forge Additional Partnerships © 2025 NOVAVAX. All rights reserved. 11
Slide 12: Value Generation Through Existing Partnerships
Partner Authorized Use Phase 3 Phase 2 Phase 1 Preclinical Candidate Therapeutic Area Developed by partners leveraging Novavax technology R21/Matrix - M ® adjuvant 1 Parasitic diseases Malaria RIV3 (FLUBLOK) - NCT06695130 2 Respiratory diseases COVID - 19 + seasonal influenza TIV - HD (FLUZONE High
Slide 13: Significant and Growing Interest in Matrix-M and our Technology Platform
Significant and Growing Interest in Matrix - M ® and our Technology Platform Early Partnerships with Expansion Potential • Multiple m aterial transfer agreements with leading pharma companies • Pre - clinical collaboration to explore Matrix - M in a partner cancer vaccine CURRENT PARTNERSHIPS © 2025
Slide 14: Extensive Matrix-M Experience Across Platforms
Administered to over 50,000 participants in clinical studies Wide Range of Antigens & Vaccine Platforms Studied (Novavax & Collaborators) 14 © 2025 NOVAVAX. All rights reserved. CONFIDENTIAL AND PROPRIETARY. 1. Stertman et al. Hum Vaccin Immunother . 2023 Dec 31;19(1):2189885. doi: 10.1080/21645515.
Slide 15: The Need and Desire for a COVID-Influenza Combination Vaccine is Strong
The Need and Desire for a COVID - Influenza Combination Vaccine is Strong 15 © 2025 NOVAVAX. All rights reserved. 1. Source: Sanofi Market Research 40% Co-administered 82% 54 - 69% COVID-19 and Flu Either • US Retail Market Claims data suggests 40% of people immunized against Influenza got COVID vac
Slide 16: Novavax Combination (CIC) and Stand-alone Flu Vaccines
Novavax Combination (CIC) and Stand - alone Flu Vaccines 16 Fluzone HD CIC Nuvaxovid Novavax's Flu Vaccine ( tNIV ) Participants were randomized to one of four arms: Immunogenicity comparisons Immunogenicity comparisons Novavax intends to partner both vaccine candidates to advance further developmen
Slide 17: Observations from Initial Cohort of CIC-301 Study
Novavax Combination (CIC) and Stand - alone Flu Vaccines 17 © 2025 NOVAVAX. All rights reserved. Observations from Initial Cohort of CIC - 301 Study • Both stand - alone flu and CIC vaccine candidates induced robust immune responses to the vaccine strains (2.4 - 5.7 - fold over baseline). • Both vac
Slide 18: Strategic Priority: Advance our Technology Platform and Early-stage Pipeline
STRATEGIC PRIORITY 3 Advance our Technology Platform and Early - stage Pipeline 18 © 2025 NOVAVAX. All rights reserved.
Slide 19: Novavax Pipeline
Partner Authorized Use Phase 3 Phase 2 Phase 1 Preclinical Candidate Therapeutic Area Novavax Novavax COVID - 19 Vaccine 1 Respiratory diseases COVID - 19 COVID - influenza combination (CIC) vaccine 2 Respiratory diseases COVID - 19 + seasonal influenza Influenza vaccine (older adults) Respiratory d
Slide 20: Advancing Early-Stage and Preclinical Programs in High-Value Vaccine-Preventable Diseases
© 2025 NOVAVAX. All rights reserved. Advancing Early - Stage and Preclinical Programs in High - Value Vaccine - Preventable Diseases H5N1 Avian Flu RSV Combinations Varicella - zoster virus (Shingles) C. difficile • Non - human primate studies have shown our vaccine candidate can produce protective
Slide 21: Establishing a Lean Operating Model to Drive Shareholder Value
Establishing a Lean Operating Model to Drive Shareholder Value © 2025 NOVAVAX. All rights reserved. 21
Slide 22: New Growth Strategy Has Potential for Multiple Revenue Streams
New Growth Strategy for Novavax Has Potential for Multiple Revenue Streams Areas of Potential Revenue Generation in 2025 and Beyond Not Included in 2025 Guidance 2025 Revenue Framework New Strategy Drives Revenue Growth via Partnering and Innovative R&D Core Spend Profile Focus on Lean and Efficient
Slide 23: 2025 and Beyond
23 © 2025 NOVAVAX. All rights reserved. 2025 and Beyond Additional Sanofi - related milestones Additional partnerships Advancement of early - stage pipeline WHAT TO EXPECT KEY MILESTONES U.S. COVID - 19 BLA Approval (May 2025) Novavax CIC and Stand - alone flu data (June 2025) Sanofi royalty opportu
Slide 24: Thank you
Thank you 24 © 2025 NOVAVAX. All rights reserved.
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