Novavax pushes profitability target to 2029, shares dip
NVAX•Novavax pushed its profitability target from 2028 to 2029, and its shares fell 9%. It raised its 2026 adjusted revenue forecast to $385 million-$415 million and reported a quarterly net loss of $31 million.
1. Profitability target delayed
Novavax said it now expects to reach profitability in 2029, a year later than its previous target. Its shares fell 9%, overshadowing the increase in its 2026 adjusted revenue forecast.
2. Sanofi vaccine timeline
Novavax said Sanofi intends to start a late-stage trial of its flu-COVID combination vaccine in 2027, with a US commercial launch expected in 2029. Novavax is eligible for a $225 million milestone payment upon launch. Analyst Mayank Mamtani said the vaccine would be the biggest driver of Novavax's cash flow, while the trial timeline is outside Novavax's control.
3. Revenue and quarterly loss
Novavax raised its 2026 adjusted revenue forecast to $385 million-$415 million from $235 million-$275 million; analysts' average estimate was $380.29 million. Its quarterly net loss narrowed to $31 million from $202 million a year earlier.
