Novavax shares up on fourth quarter earnings beat

Investing.com -- Shares of Novavax (NASDAQ: NVAX) rose about 1.75% in premarket trading after reporting a smaller-than-expected quarterly loss but it missed revenue estimates. The company is transitioning away from direct commercialization of its COVID-19 vaccine.

The vaccine maker posted a fourth-quarter loss per share of $0.51, beating analysts’ expectations of a 60-cent loss on each share. Revenue came in at $88.31 million, below the consensus estimate of $102.74 million.

Novavax said it was transitioning away from commercial responsibilityof its COVID-19 vaccine, Nuvaxovid, giving it to Sanofi (NASDAQ: SNY) starting with the 2025-2026 season.

The company also secured a $50 million milestone payment under its Sanofi agreement and completed the $200 million sale of its Czech Republic manufacturing facility to Novo Nordisk (NYSE: NVO), a move expected to reduce annual costs by about $80 million.

The company ended 2024 with over $1 billion in cash and accounts receivables and provided 2025 financial guidance. CEO John C. Jacobs said Novavax is shifting its focus toward pipeline expansion and partnerships for its vaccine candidates and adjuvant technology.

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