NOVAVAX INC reported second-quarter 2026 results showing a sharp year-over-year decline in revenue and a return to a net loss for the quarter, driven by fewer one-time milestone and agreement-related items versus the prior-year period.
Financial Highlights
| MetricCurrent quarterPrior year quarterYoY change | Revenue¹$56.7M$239.24M(76.3%) | Net income²($53.39M)$106.51M(150.1%) | Diluted EPS³($0.32)$0.62(151.6%) |
¹ Reported as “Total revenue”. ² Reported as “Net income (loss)”. ³ Reported as “Net income (loss) per share”.
Business Highlights
- Revenue trend: Q2 revenue declined $182.5M versus the prior year and H1 revenue fell $709.7M, primarily due to fewer milestone and Advance Purchase Agreement (APA) one‑time items.
- Channel shift: Commercial lead for Nuvaxovid was transferred to Sanofi, reducing direct vaccine sales while increasing supply and adjuvant sales.
- Partnerships & licensing: Expanded Matrix‑M® collaborations with Sanofi, Pfizer, Takeda and SII; Pfizer provided a $30M upfront payment with potential additional milestones and royalties.
- Product & pipeline momentum: U.S. BLA approvals for Nuvaxovid™ and JN.1; continued R21/Matrix‑M™ malaria rollout with over 30M doses distributed; positive Phase 3 data for CIC/influenza program while Novavax seeks a partner.
- Operational actions: Ongoing global restructuring and cost containment, technology transfer to Sanofi (mid‑2027 milestone) and continued post‑marketing commitments including PMC and Phase 4 activities.
Original SEC Filing:
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