Novavax Q3 revenue $735M, net loss $169M; narrows FY 2022 revenue guidance to ~$2.0B

NOVAVAX INC

2023-Q3 EPS reported -$6.13 revenue$1,624,473,000

Total revenue $735M (Q3 2021: $179M); net loss $169M vs $322M prior year.
Cost of sales $435M includes $249M excess/obsolete inventory losses.
Refines FY 2022 revenue guidance to ~$2.0B, low end of prior $2.0-2.3B range.
Over 94M doses of COVID-19 vaccine delivered globally; booster authorized in U.S., EU, others.
Cash and restricted cash $1.3B as of Sept 30, 2022.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NOVAVAX INC reported the third quarter ended September 30, 2022 results: revenue $735 million.

Period: the third quarter ended September 30, 2022
Revenue: $735 million
Result: reported results

Exact text from the filing

· Achieved total revenue for the third quarter of $735 million · Delivered over 94 million doses of NVX-CoV2373 globally to date · Authorized as a booster for adults in the U.S., E.U., and additional markets · Authorized as a primary series for adolescents aged 12 – 17 years in U.S., EU, Japan, and additional markets · Announced data about our prototype’s broad immune response against circulating variants when used as a booster · Initiated NVX-CoV2373 Phase 2b/3 study in children 6 months through 11 years of age · Refining full year 2022 total revenue guidance to approximately $2.0 billion · Company to host conference call today at 4:30 p.m. ET GAITHERSBURG, Md., November 8, 2022 – Novavax, Inc. (NASDAQ: NVAX), a biotechnology company dedicated to developing and commercializing next-generation vaccines for serious infectious diseases, today announced its financial results and operational highlights for the third quarter ended September 30, 2022.

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Source: SEC EDGAR

accession 0001104659-22-115937

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