Novavax Q2 net income $58M on $424M revenue; SK bio partnership & Canada APA strengthen finances

NOVAVAX INC

2023-Q2 EPS reported -$2.69 revenue$505,377,000

Q2 total revenue $424M (up from $186M); net income $58M vs net loss $510M in Q2 2022.
Updated FY 2023 revenue guidance to $1.3B-1.5B (from $1.4B-1.6B); combined R&D/SG&A cut to $313M from $398M.
SK bioscience $85M equity investment at $13/share (59% premium); $195M manufacturing liability settled for $154M.
Initiated FDA submission for updated XBB COVID vaccine; expect availability by September 2023.
Reduced current liabilities by $864M in H1 2023; total reduction over $1B including SK bioscience deal.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NOVAVAX INC reported Quarter Ended June 30, 2023 results: revenue $424 million, net income $58 million.

Period: Quarter Ended June 30, 2023
Revenue: $424 million
Net income: $58 million
Result: reported results

Exact text from the filing

Novavax Reports Second Quarter 2023 Financial Results and Operational Highlights • Second quarter total revenue of $424 million and net income of $58 million

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41 earnings releases filed in the last 30 days. Browse all earnings releases →

NOVAVAX INC filing history →

Source: SEC EDGAR

accession 0001000694-23-000050

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