Novavax Achieved $415 Million in Revenue During Second Quarter 2024

Novavax, Inc. today announced its financial results and operational highlights for the second quarter ended June 30, 2024. The Company confirmed it achieved total revenue of $415 million in the second quarter of 2024 and ended the period with $1.1 billion in Cash.

John C. Jacobs, President and Chief Executive Officer of Novavax, commented in a press release on August 8, 2024, "We intend to drive future value for the business through not only the Sanofi partnership but also through our late-stage combination and influenza assets."

"We plan to unveil a new and expanded clinical pipeline by the end of this year and leverage the pipeline and our proven technology to drive additional partnerships and deals and ultimately drive significant, long-term value for our shareholders."

Additionally, Novavax has taken steps to enable a successful operationalization of the collaboration and license agreement with Sanofi Pasteur Inc. 

Effective January 1, 2025, Sanofi will assume primary commercial responsibility for Novavax's updated 2024-2025 formula COVID-19 vaccine (NVX-CoV2705) in the U.S., Europe, and select major markets not currently subject to Novavax Advance Purchase Agreements or existing partnership agreements.

Furthermore, the Company expects to deliver its updated 2024-2025 formula protein-based COVID-19 vaccine to the market by the start of the season, and it has advanced retail pharmacy contract negotiations to enhance access for the 2024-2025 vaccination season.

The COVID-19 vaccine was created using Novavax's nanoparticle technology, Matrix-M™, an adjuvant that enhances immune responses and stimulates high levels of neutralizing antibodies.

In the U.S. market, Novavax submitted an Emergency Use Authorization (EAU) amendment to the U.S. Food and Drug Administration (FDA); doses will be ready to ship upon receipt of the EUA. The FDA accepted the Biologics License Application for Novavax's COVID-19 vaccine with a Prescription Drug User Fee Act date of April 2025.

However, the U.S. FDA has not approved the trade name Nuvaxovid™.