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Novavax
Novavax (NVAX) investor relations material
Novavax 44th Annual J.P. Morgan Healthcare Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.44th Annual J.P. Morgan Healthcare Conference summary15 Jan, 2026
Vision and Transformation
Transitioned from a single-asset COVID vaccine focus to a diversified, partnership-driven platform strategy since 2023, with leadership changes and a global commercial model.
Achieved major cost and liability reductions, cutting over $2 billion in liabilities and reducing headcount by 65-70% between 2023-2025.
Maintains a lean operating model, prioritizing non-dilutive funding, fiscal discipline, and targeting $250 million in SG&A and R&D by 2027.
Aims for non-GAAP profitability as early as 2028, leveraging partner revenues, new business development, and the Sanofi CIC launch.
Envisions long-term growth through multiple pharma partners, diversified royalty streams, and milestone opportunities beyond 2028.
Partnership Strategy and Milestones
Key partners include Sanofi, Takeda, and Serum Institute of India, with Sanofi providing over $800 million in non-dilutive capital in 18 months.
Eligible for significant milestones and royalties from Sanofi, including $125 million for phase III initiation and $225 million at commercial launch for combination vaccines.
Multiple Material Transfer Agreements (MTAs) signed with top pharma and oncology companies, aiming to convert these into future partnerships and licensing agreements.
Achieved all anticipated 2025 milestones, including $225 million from Sanofi, and expects further partnership announcements in 2026-2028.
Actively seeking new partnerships and licensing agreements to drive future value.
R&D and Technology Platform
R&D focuses on generating proof points, expanding technology utility (including oncology), and developing early-stage assets for partnership.
Matrix-M adjuvant enables broad, potent, and durable immune responses, compatible with multiple vaccine platforms.
Pipeline includes marketed COVID-19 and malaria vaccines, with preclinical and clinical candidates in RSV, shingles, C. diff, and pandemic influenza.
Early-stage programs in C. diff, shingles, and RSV triple are advancing with minimal investment, aiming for clinical entry by 2027.
Over 5.5 million COVID-19 vaccine doses and ~25 million R21/Matrix-M malaria vaccine doses administered globally.
Sanofi CIC launch impact on 2028 profitability
R&D strategy beyond infectious disease
Drivers for new Matrix-M partnerships
How will Novavax sustain cost reductions to $250M?
Elaborate on Matrix-M's role in new partnerships.
What's the strategy for oncology market entry?
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Next Novavax earnings date
Q4 202526 Feb, 2026
Novavax
Next Novavax earnings date
Q4 202526 Feb, 2026
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Frequently asked questions
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's recombinant nanoparticle vaccine technology is based on its proprietary MVA-VLP platform, which is designed to entrap antigens within its shell while displaying antigens on its surface. The company has clinical, licensed, or in-licensed product candidates in development for the prevention of respiratory syncytial virus (RSV), Middle East respiratory syndrome coronavirus (MERS-CoV), and seasonal influenza viruses, as well as a non-clinical RSV F gene antagonist program. Available products include RespiGam; and Pediatrics Respiratory Influenza Vaccine (RIV) for children. Novavax, Inc. is based in Gaithersburg, Maryland.
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