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Companies / Healthcare / NOVAVAX INC
NVAX

NOVAVAX INC

HealthcareBiological Products
Ticker NVAXGAITHERSBURG, MDFiscal year ends DecemberBook value per share $-1.16Diluted shares 163.9M

Novavax, Inc. (NASDAQ: NVAX) is a biotechnology company focused on developing and commercializing vaccines for infectious diseases. The company's website is www.novavax.com. From the company’s description.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$1.12B
+64.7% year over year
Last 12 mo $413.80M
40.30%
+76.8 percentage points
Last 12 mo -56.58%
$440.30M
+334.8% year over year
Last 12 mo $-247.73M
-419.71%
−449.8 percentage points
Last 12 mo 129.90%
Cash & financing
$-244.63M
−180.3% year over year
Last 12 mo $-36.90M
$-251.02M
−146.3% year over year
Last 12 mo $-43.03M
-1.95
Was -0.37× a year earlier
Last 12 mo -1.56
173.1M
+13.7% year over year
Last 12 mo 163.9M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What NOVAVAX INC does

In the company’s own words

Novavax, Inc. (NASDAQ: NVAX) is a biotechnology company focused on developing and commercializing vaccines for infectious diseases. The company's website is www.novavax.com.

Novavax operates as a clinical-stage and commercial-stage vaccine manufacturer with a portfolio addressing significant public health needs. The company's primary business involves the research, development, and commercialization of recombinant nanoparticle vaccines using its proprietary Matrix-M adjuvant technology platform. This platform enhances immune response and has been applied across multiple vaccine candidates targeting respiratory and infectious diseases.

The company's core vaccine candidates and products span several therapeutic areas, with particular focus on respiratory syncytial virus (RSV), influenza, and COVID-19 vaccines. Novavax has developed commercial relationships and partnerships with various governmental and international health organizations to support vaccine development, manufacturing, and distribution efforts. The company maintains manufacturing and research facilities across multiple geographic locations to support its vaccine development and production capabilities.

Novavax's business model centers on leveraging its Matrix-M adjuvant technology to create differentiated vaccine candidates with enhanced immunogenicity. The company pursues partnerships, collaborations, and licensing agreements with other pharmaceutical companies, governmental agencies, and international health organizations to fund development, conduct clinical trials, and commercialize its vaccine products. Revenue streams include milestone payments from licensing and collaboration agreements, as well as royalties from commercialized products.

The company has received funding and support from various sources including government agencies and international health organizations such as the Coalition for Epidemic Preparedness Innovations (CEPI). Novavax has also issued convertible debt securities to support its operations and capital requirements.

As a vaccine-focused biotechnology company, Novavax competes in the highly regulated pharmaceutical and vaccine development industry, where regulatory approval, clinical efficacy data, manufacturing scale, and distribution capabilities represent key competitive factors. The company's durable advantages include its proprietary adjuvant technology, clinical development expertise, and established relationships with governmental and international health partners.

Company details
Sector
Healthcare
Industry
Biological Products
Headquarters
GAITHERSBURG, MD
Fiscal year end
December
CIK
1000694
SIC
2836

Financial performance, year by year

Fiscal 2013–2025 · USD
$-2.12B$-998.63M$119.06M$1.24B$2.35B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns NOVAVAX INC — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

162
funds hold it
0 of 35
superinvestors hold it
$380.28M
held by funds, at market
24.4%
of shares held by funds
2
bond issues held by funds

Largest fund holders · NOVAVAX INC’s weight in each

0.66%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.04%of fund net assets
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.02%of fund net assets
VANGUARD SMALL-CAP GROWTH INDEX FUND
VBK · VANGUARD INDEX FUNDS
0.04%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

NOVAVAX INC’s bonds, as funds hold them

Funds report holding 2 issues of NOVAVAX INC’s debt, $2.38M at market value — what funds hold, not the company’s total debt. Weighted-average coupon 1.49%, maturing 2027 to 2031.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do NOVAVAX INC and its peers compare on margins and cash generation over ten years?”
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