secwatch.observer — SEC 8-K summary
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Issuer:     NOVAVAX INC (NVAX)
CIK:        0001000694
Form:       8-K
Filed at:   2023-11-09T23:59:59+00:00
Accession:  0001000694-23-000059
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Novavax Q3 revenue $187M (down 75% YoY); FY23 revenue guidance lowered to $900M-$1.1B
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- Q3 2023 total revenue $187M vs $735M YoY; net loss $131M improved from $169M loss YoY.
- FY2023 total revenue guidance cut to $900M-$1.1B from prior $1.3B-$1.5B; expects additional $300M in Q1 2024.
- Additional cost reduction of >$300M in 2024 targeting R&D/SG&A <$750M and >$100M supply network savings.
- Received FDA EUA for updated COVID-19 vaccine Oct 2023; available at ~14,000 U.S. pharmacy locations.
- WHO recommended R21/Matrix-M malaria vaccine; initial Matrix-M sales recognized in Q3 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1000694/000100069423000059/0001000694-23-000059-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1000694/000100069423000059/nvax-20231109.htm
  HTML page:      https://secwatch.observer/filing/0001000694-23-000059

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