Novavax Q2 net income $162M on $415M revenue; Sanofi partnership boosts cash to $1.1B

NOVAVAX INC

2024-Q2 EPS reported $0.10 revenue$509,339,000

Q2 2024 total revenue $415M (vs. $424M Q2 2023); net income $162M (vs. $58M).
Received $500M upfront + $70M equity from Sanofi; eligible for up to $700M in milestones plus royalties.
Ended Q2 with $1.1B cash vs. $584M Dec 2023; combined R&D and SG&A down 34% YoY.
Filed EUA amendment with FDA for 2024-2025 formula COVID-19 vaccine; BLA accepted with PDUFA April 2025.
Targeting FY2025 combined R&D/SG&A below $500M; Phase 3 combo/flu vaccine trial starts Q4 2024.

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