Novavax reports Q4 revenue $88M, net loss $81M; transitions COVID vaccine to Sanofi; guides 2025 adj revenue $300-350M

NOVAVAX INC

2024-FY EPS reported -$1.23 revenue$682,162,000

Q4 2024 revenue $88M (vs $291M YoY); full year $682M (vs $984M). Product sales $50M vs $251M.
Net loss narrowed to $81M in Q4 (vs $178M); full year loss $187M (vs $545M). Cash $938M at Dec 31, 2024.
Transitioned Nuvaxovid commercial lead to Sanofi for 2025-2026 season. BLA target action date April 2025; $175M milestone upon approval.
Sold Czech facility to Novo Nordisk for $200M; gain of $52M, annual cost savings ~$80M.
2025 guidance: combined R&D+SG&A $475-525M; adjusted licensing/royalties/other revenue $300-350M.

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