Business
Novavax Reports First Quarter 2026 Financial Results and Operational Highlights
Novavax, Inc. (Nasdaq: NVAX) today announced its financial results and operational highlights for the first quarter ended March 31, 2026.
About this update from Novavax, Inc.
GAITHERSBURG, Md., May 6, 2026 /PRNewswire/ -- Novavax, Inc. (Nasdaq: NVAX) today announced its financial results and operational highlights for the first quarter ended March 31, 2026. "Novavax continued to make significant progress executing our corporate strategy, which is comprised of partnering our technology, capital-efficient R&D innovation and a lean operating platform. In 2026, we signed a new, Matrix-M license with Pfizer for up to two vaccine candidates and secured four additional MTAs with a growing list of large pharmaceutical and innovative biotech companies," said John C. Jacobs, President and Chief Executive Officer, Novavax. "With these agreements in place, our partners have the right to evaluate Matrix in over 30 unique fields of experimentation targeting more than 50% of the projected over $100 billion market for infectious disease and oncology vaccines and immuno-therapeutics. In addition, Novavax continued to advance our own R&D efforts with the selection of our C. difficile vaccine candidate as our next potential asset to advance to the clinic as early as 2027." First Quarter 2026 and Recent Highlights Key Business Highlights First Quarter 2026 Total Revenue First quarter 2025 Nuvaxovid sales included $603 million of non-cash sales related to the close-out of two Advance Purchase Agreements (APA). First Quarter 2026 Financial Results Financial Framework Reiterates Full Year 2026 Financial Guidance Novavax reiterates its Full Year 2026 Financial Guidance for Combined R&D and SG&A Expenses and Non-GAAP Combined R&D and SG&A Expenses and expects to achieve the following results: Non-GAAP Combined R&D and SG&A Expenses exclude R&D Reimbursements, which are amounts reimbursed by Novavax's license partners. See "Non-GAAP Financial Measures" below. R&D Reimbursements are recorded as revenue under Licensing, Royalties and Other Revenue. Reiterates Full Year 2026 Revenue Framework For 2026, Novavax reiterates its 2026 Revenue Framework and expects to achieve Adjusted Total Revenue4 of between $230 million and $270 million. Novavax transitioned lead commercial responsibility of Nuvaxovid beginning with the 2025-2026 COVID-19 vaccination season to Sanofi for select markets. Since Novavax is reliant on Sanofi's sales forecasts for certain revenue components, these are n...