NOVAVAX INC (NVAX)
Health Care · Vaccine manufacturers / therapeutic development · NASDAQ
Vaccine technology innovator with Matrix-M™ adjuvant and protein nanoparticle platform pivoting from direct COVID-19 commercialization to partnerships and licensing with pharma giants.
What NOVAVAX INC does
Novavax develops and commercializes vaccines using its proprietary Matrix-M™ adjuvant and recombinant protein-based nanoparticle technology platform. The company markets its authorized COVID-19 vaccine (Nuvaxovid) and earns licensing revenue from partnerships including the R21/Matrix-M™ malaria vaccine developed by the University of Oxford and manufactured by Serum Institute of India. It is pursuing a growth strategy focused on partnering its adjuvant and R&D assets while maintaining a lean operating model.
Themes: ["vaccine platform technology","COVID-19 vaccines","malaria vaccines","vaccine adjuvants","partnerships / licensing revenue"]
Fundamentals
- Price$9.40 as of 2026-07-09 close
- Market cap$1.5B as of 2026-07-10
- 1-year return+33.5% as of 2026-07-09 close
- P/E3.51 as of 2026-07-10
- Net margin-14.7% as of 2026-07-10
- Gross margin+85.0% as of 2026-07-10
- ROE+283.1% as of 2026-07-10
- Debt / equity6.07 as of 2026-07-10
- Revenue growth (YoY)-52.5% as of 2026-07-10
- Revenue CAGR (3y)-17.2% SEC XBRL
- Beta2.49 as of 2026-07-10
Key risks (from latest filing)
["Severe revenue decline (-52.48% YoY) driven by precipitous drop in COVID-19 vaccine sales ($621.7M in Q1 2025 to $42.2M in Q1 2026), reflecting market saturation and competitive pressure","Negative operating margins and accumulated deficit (-$4.58B as of March 2026); company is unprofitable and burning cash as it transitions to partnership/licensing model","Heavy dependence on licensing and partnerships (which generated $97.3M in Q1 2026 versus product sales of $42.2M) creates revenue concentration risk if key partnerships (Sanofi, Pfizer, Serum Institute of India) underperform or terminate"]
Competitors & peers
- Moderna (MRNA)
- BioNTech/Pfizer (PFE)
- GSK (GSK)
- Merck (MRK)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.