Novavax (NVAX) Misses Q4 EPS, Revenues; Provides Vaccine Updates

Novavax (NASDAQ: NVAX) reported Q4 EPS of ($2.70), $1.55 worse than the analyst estimate of ($1.15). Revenue for the quarter came in at $279.66 million versus the consensus estimate of $347.92 million.

• 96% vaccine efficacy against original COVID-19 in UK Phase 3 trial
• Vaccine cross-protection demonstrated against both variants circulating in the UK and South Africa
• Full enrollment (~30,000 participants) in PREVENT-19 Phase 3 trial
• Agreements for ~300 million doses to date
• Additional 1.1 billion doses to be supplied to the COVAX Facility (jointly with Serum Institute of India)
• Clinical trial of variant strain vaccines as standalone and bivalent candidates expected mid-2021

“Novavax continues to make significant strides towards bringing NVX-CoV2373, our COVID-19 vaccine candidate, to market,” said Stanley C. Erck, President and Chief Executive Officer of Novavax. “With positive efficacy results, including against evolving variant strains, NVX-CoV2373 offers a highly unique profile, including the ability to ship and store the vaccine at traditional refrigerated temperatures. We believe these attributes support emergency use authorization and have initiated dialogue with regulators to pursue appropriate regulatory authorization. In addition, we have secured agreements for the delivery of approximately 300 million doses of NVX-CoV2373. In our efforts to provide fair and equitable access to our vaccine around the world, we are proud to partner with the Serum Institute of India to jointly supply 1.1 billion doses of NVX-CoV2373 to Gavi through the COVAX Facility. We continue to work tirelessly to make final commercial preparations in advance of delivering our product across the globe.”

For earnings history and earnings-related data on Novavax (NVAX) click here.

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