The quarterly loss of Novavax is shrinking while it reduces spending on Covid vaccines

(Reuters)-Novavax loss in the fourth quarter on Thursday, with the help of low expenses in sales and administrative Covid-19 vaccines, has its only product on the market.

The company has struggled to keep up with the pace of its competitors, Moderna and Pfizer, which makes the Messenger RNA vaccines compared to protein -based bullets.

Novavax recorded a quarterly sales of $ 49.8 million for Covid vaccines, a decrease of 80.2 % from the previous year.

The American company signed a license of at least $ 1.2 billion with the French drug maker Sanofi in May to hand over the rights to sell its vaccines in many markets, including the United States and Europe.

Maryland-based Novavax said it will continue to sell bullets in the United States during the first half of this year, as the market is transferred to Sanovi from the 2025-2026 vaccination season.

It depends on the revenues of the Sanofi deal and the vaccine under development, including a Covid-FU experimental snapshot and the bird influenza, which is in the pre-clinical stage.

Novavax said he was eligible to receive high-teenage royalties to the twenties in Sanofi sales, along with $ 350 million of commercial launch payments related to Covid-FLU products.

The vaccine maker did not provide total revenue forecast for 2025, depending on Sanofi sales estimates for some revenue components.

The shares of Novavax, along with other vaccine makers, achieved great success this year after the nomination of lawmakers Donald Trump to Robert F. Kennedy Junior to head the Ministry of Health and Humanitarian Services for confirmation.

Kennedy was confirmed as an environmental lawyer and a vaccine on February 13.

The net net loss for Novavax reached $ 81 million for a quarter ending on December 31, compared to a net loss of $ 178.3 million a year ago.

It ended in 2024 with $ 938 million in cash and the city’s receivables, compared to $ 584 million as of December 31, 2023.

(Participated in the reports of Christie Santhosh in Bangaluru; edited by Shelby Magmdar)