
Novavax shares fall 8% despite Q3 earnings and revenue beat as costs decline, while a Sanofi milestone drives a sharp increase in its 2026 outlook.
Novavax, Inc., a biotechnology company, focuses on the discovery, development and commercialization of vaccines to prevent serious infectious diseases and address health needs. The company is headquartered in Gaithersburg, Maryland.
| Revenue (TTM) | $413.80M |
| Gross Profit (TTM) | $-10.58M |
| EBITDA | $-101.55M |
| Operating Margin | -89.60% |
| Return on Equity | -898.00% |
| Return on Assets | -6.51% |
| Revenue/Share (TTM) | $2.54 |
| Book Value | $-0.79 |
| Price-to-Book | 41.23 |
| Price-to-Sales (TTM) | 4.30 |
| EV/Revenue | 2.879 |
| EV/EBITDA | 2.36 |
| Quarterly Earnings Growth (YoY) | -38.10% |
| Quarterly Revenue Growth (YoY) | -76.30% |
| Shares Outstanding | $164.95M |
| Float | $146.21M |
| % Insiders | 5.05% |
| % Institutions | 66.33% |
Volatility is currently contracting

Novavax shares fall 8% despite Q3 earnings and revenue beat as costs decline, while a Sanofi milestone drives a sharp increase in its 2026 outlook.

Novavax NASDAQ: NVAX raised its 2026 revenue framework after partner Sanofi began a late-stage trial of a combination influenza and COVID-19 vaccine in Europe, triggering a $125 million milestone payment for the vaccine technology company.

Novavax, Inc. (NVAX) Q3 2026 Earnings Call Transcript

Novavax (NVAX) came out with a quarterly loss of $0.19 per share versus the Zacks Consensus Estimate of a loss of $0.37. This compares to a loss of $0.62 per share a year ago.

Reports total revenue of $68 million for the third quarter of 2026 Raises full-year 2026 Non-GAAP Adjusted Total Revenue by $145 million to $400 million at mid-point and improves GAAP Combined R&D and SG&A expense guidance by $5 million at mid-point In October, Novavax earned a $125 million milestone upon Sanofi's launch of Phase 3 influenza-COVID-19 combination vaccine trial in Europe Sanofi confirms their intent to initiate a U.S. Phase 3 influenza-COVID-19 combination vaccine trial in 2027 to support U.S. approval Differentiated C. difficile vaccine program anticipated to advance into the clinic as early as 2027 Multiple Novavax and partner-led experiments with Matrix-M ® currently underway in a wide array of infectious disease targets and oncology models Company to host conference call today at 8:30 a.m.

Novavax (NVAX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

The global flu and COVID-19 markets have a current combined value that exceeds $10 billion, with significant burden of disease 1 The combination vaccine candidate evaluated in this trial pairs Sanofi's leading high-dose flu vaccine with Novavax's differentiated COVID-19 vaccine Significant potential value remains in Sanofi partnership via additional future opportunities for milestones and royalties GAITHERSBURG, Md., Oct. 29, 2026 /PRNewswire/ -- Novavax (Nasdaq: NVAX) has earned a $125 million milestone payment with the initiation (fifth patient dosed) of Sanofi's Phase 3 influenza-COVID-19 combination vaccine trial utilizing Novavax's COVID-19 vaccine, Nuvaxovid™.

GAITHERSBURG, Md., Oct. 29, 2026 /PRNewswire/ -- Novavax, Inc. (Nasdaq: NVAX) today announced that the Company plans to release its third quarter 2026 financial results before the open of the U.S. financial markets on Thursday, November 5, 2026.

Shrugging off a valuation downgrade, Moderna (NASDAQ:MRNA | MRNA Price Prediction) is climbing as investors weigh strong cancer vaccine data against a share price that already reflects big expectations. Moderna stock stands at $217, up 4% this morning.

Novavax (NVAX) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
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