Significant Cost Reduction
Novavax reduced more than $1 billion in current liabilities by year-end 2024 compared to 2022 and decreased operating expenses by almost $1 billion in the same period.
Sanofi Partnership Expansion
The partnership with Sanofi includes the use of Novavax's Matrix-M adjuvant in Sanofi's pandemic flu vaccine candidate, securing $225 million in 2025 from achieved milestones.
Matrix-M Vaccine Advances
Novavax's Matrix-M adjuvant is crucial in the R21 malaria vaccine distributed in Africa, with approximately 25 million doses delivered to 24 countries.
Financial Improvements
Novavax brought in $60 million in near-term cash and anticipates long-term savings of approximately $230 million by consolidating its Maryland campus footprint.
Positive Revenue Framework Update
Novavax raised its 2025 revenue framework by $25 million at the midpoint, expecting adjusted total revenue between $1.040 billion and $1.060 billion.