Quarterly ResultMay 6, 2026, 08:02 AM
Novavax Q1 Revenue $140M; Advances C. difficile Vaccine
AI Summary
Novavax reported first quarter 2026 total revenue of $140 million, a 79% decrease year-over-year, primarily due to non-cash sales in the prior year, and a net loss of $9 million. Operationally, the company made significant progress by signing a Matrix-M license agreement with Pfizer, which included a $30 million upfront payment, and securing four additional Material Transfer Agreements (MTAs) with pharmaceutical companies. Novavax also prioritized its C. difficile vaccine candidate for potential clinic entry as early as 2027 and reiterated its full year 2026 financial guidance.
Key Highlights
- Total revenue for Q1 2026 was $140 million, a 79% decrease from $667 million in Q1 2025.
- Novavax reported a net loss of $9 million in Q1 2026, compared to net income of $519 million in Q1 2025.
- The Pfizer Matrix-M license agreement generated an upfront payment of $30 million in Q1 2026.
- Novavax secured four new or expanded Material Transfer Agreements (MTAs) for Matrix-M in Q1 2026.
- The C. difficile vaccine candidate was prioritized for potential clinic entry as early as 2027.
- Full year 2026 revenue framework was reiterated at $230 million to $270 million.
- Non-GAAP combined R&D and SG&A expense guidance for 2026 was reiterated at $310 million to $340 million.
- Cash, cash equivalents, marketable securities, and restricted cash totaled $795 million as of March 31, 2026.
Price Impact
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