![]() Data from the study proved that the CIC vaccine was feasible, well-tolerated and immunogenic. The initiation of this study was based on positive data from the phase I/II study on the CIC vaccine announced in October 2022. ![]() The CIC vaccine is a combination of NVX-CoV2373 and the influenza vaccine in a single formulation. NVAX is evaluating a COVID-19-influenza combination (CIC) vaccine candidate in a phase II study in older adults (50-80 years), initiated in December 2022. The study is expected to be completed in July 2023. ![]() Novavax reported that a part II of its phase III study on the COVID-19 Omicron BA.1 vaccine candidate will evaluate the candidate vaccine compared with an Omicron BA.5 vaccine, as well as a bivalent containing prototype and Omicron BA.5 vaccine. Novavax also reported the European Medicines Agency and FDA approvals of Nuvaxovid five-dose vial variation. The company shared its intent to deliver updated mono- or bivalent strain vaccine for the 2023 fall vaccination season, consistent with public health recommendations. government for up to 1.5 million additional doses of Nuvaxovid for delivery in 2023. In February 2023, the company reached a modified agreement with the U.S. Per management, Novavax has delivered more than 100 million doses of Nuvaxovid, its COVID-19 vaccine, globally to date. In 2021, the company recorded a loss of $23.44 per share. Novavax’s loss per share for the entire year is $8.42, wider than the Zacks Consensus Estimate of a loss of $6.86 per share. 2022 Resultsįor the full year, Novavax clocked revenues of $1.98 billion, which marginally missed the Zacks Consensus Estimate of $2.0 billion, but witnessed growth of 72.9% year over year. The rise in expenses was driven by activities to support the commercialization of Novavax’s COVID-19 vaccine program.Īs of Dec 31, 2022, Novavax had $1.34 billion of cash and cash equivalents compared with $1.28 billion as of Sep 30, 2022. Selling, general and administrative expenses rose 92.9% year over year to $162 million. The downside was primarily caused by a decrease in development activities relating to coronavirus vaccines and an increased amount of manufacturing network costs capitalized to inventory which previously were expensed to research and development. In the reported quarter, research and development expenses were $258 million, down 73.2% year over year. Novavax’s grant revenues declined 26.8% year over year to $69.6 million for the same period. NVAX recorded $39 million of revenues from royalties and adjuvant sales to license partners which portrays a decline of 100% from $127.2 in the year-ago quarter. Higher product sales helped offset a decline in grants, royalties and other revenues. Total sales from Nuvaxovid product sales were recorded at $288 million, which beat the Zacks Consensus Estimate and our estimate of $258 million. In the United States, the vaccine is marketed as Novavax COVID-19 Vaccine, Adjuvanted.ĭuring the fourth quarter of 2022, revenues were driven by the sales of Nuvaxovid products. Novavax markets two versions of its COVID-19 vaccine, one marketed in partnership with the Serum Institute of India (Serum) under the trade name Covovax and another version produced by Novavax that is marketed under the trade name Nuvaxovid. Please visit and LinkedIn for more information.Image Source: Zacks Investment Research Quarter in Detail Focused on the world's most urgent health challenges, Novavax is currently evaluating vaccines for COVID-19, influenza, and COVID-19 and influenza combined. Novavax, a global company based in Gaithersburg, Md., U.S., offers a differentiated vaccine platform that combines a recombinant protein approach, innovative nanoparticle technology and Novavax's patented Matrix-M adjuvant to enhance the immune response. (Nasdaq: NVAX) promotes improved health by discovering, developing and commercializing innovative vaccines to protect against serious infectious diseases.
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