Novavax reported total revenue of $415 million for Q2 2024, including $391 million from Sanofi partnership upfront payment. The company ended the quarter with $1.1 billion in cash, while net income reached $162 million compared to $58 million in Q2 2023. Combined R&D and SG&A expenses decreased 34% YoY.The company received $570 million from Sanofi, comprising a $500 million upfront payment and $70 million equity investment. Under the partnership effective January 2025, Sanofi will assume primary commercial responsibility for Novavax's 2024-2025 COVID-19 vaccine in major markets. Novavax is eligible for up to $700 million in additional milestones plus royalties.Looking ahead, Novavax plans to initiate Phase 3 trials for COVID-19-Influenza Combination and standalone influenza vaccines in Q4 2024. The company updated its 2024 guidance to $700-800 million in total revenue and targets reducing combined R&D and SG&A expenses to below $500 million for 2025 and below $350 million for 2026.

Novavax reported total revenue of $415 million for Q2 2024, including $391 million from Sanofi partnership upfront payment. The company ended the quarter with $1.1 billion in cash, while net income reached $162 million compared to $58 million in Q2 2023. Combined R&D and SG&A expenses decreased 34% YoY.The company received $570 million from Sanofi, comprising a $500 million upfront payment and $70 million equity investment. Under the partnership effective January 2025, Sanofi will assume primary commercial responsibility for Novavax's 2024-2025 COVID-19 vaccine in major markets. Novavax is eligible for up to $700 million in additional milestones plus royalties.Looking ahead, Novavax plans to initiate Phase 3 trials for COVID-19-Influenza Combination and standalone influenza vaccines in Q4 2024. The company updated its 2024 guidance to $700-800 million in total revenue and targets reducing combined R&D and SG&A expenses to below $500 million for 2025 and below $350 million for 2026.