A partnership with French drug maker Sanofi, leveraging its platform and pipeline to find new partnerships, and advancing the pipeline form the three main strategic priorities for Novavax as it works to rebuild the foundation of its business following dramatic declines in quarterly and annual sales. At the same time, the company appears to be taking news of vaccine advisory committee meetings being postponed or canceled in stride.
The Gaithersburg, MD-based vaccine maker announced its fourth quarter and full year 2024 earnings on 27 February, reporting quarterly revenue of $88m, down from $291m in the fourth quarter of 2023, and full year revenue of $682m, down from $984m in 2023
Key Takeaways
- Novavax reported a drop in revenues for the fourth quarter and full year of 2024, but it is focusing on strategies that it hopes can return it to profitability.
- It also sold off a plant in the Czech Republic and is hoping to reduce its annual expenses
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