Updates on ResVax and NanoFlu are also expected on the forthcoming earnings call.Ĭombined SG&A and R&D expense in first-quarter 2023 is expected to be $370 million or less, per the company’s operating expenses guidance on the last earnings call. The study achieved its primary endpoints as well as statistically significant key secondary endpoints. The company also completed its phase III study evaluating NanoFlu, a recombinant quadrivalent seasonal influenza vaccine candidate with Matrix-M adjuvant, in 2020. Novavax is also developing ResVax for the prevention of Respiratory syncytial virus disease in infants via maternal immunization for children between 2-6 years old and older adults in separate studies in different stages. Novovax also reported the European Medicines Agency and FDA approvals of Nuvaxovid five-dose vial variation.
NVAX CONVERSATIONS UPDATE
An update regarding the strain selection for the same is expected on the upcoming earnings call. The company shared its intent to deliver updated mono- or bivalent-strain vaccine for the 2023 fall vaccination season, which is consistent with public health recommendations. government for up to 1.5 million additional doses of Nuvaxovid for delivery in 2023. In February 2023, the company also announced reaching a modified agreement with the U.S. The study is expected to be completed in July 2023. The company reported that part II of its phase III study on the COVID-19 Omicron BA.1 vaccine candidate will evaluate the candidate vaccine compared with an Omicron BA.5 vaccine as well as a bivalent containing prototype and Omicron BA.5 vaccine. Novavax is advancing the clinical development of its Omicron-based COVID vaccine. Thus, our estimate for Novavax’s first-quarter 2023 revenues is pegged at $0. Due to this, the company does not anticipate any new vaccine sales for the first quarter of 2023. The COVID-19 market has been evolving and stabilizing during the transition from the pandemic to the endemic phase. However, on the last earnings call, Novavax reported that it has been witnessing an emerging seasonality in the demand for COVID-19 vaccines globally. The vaccine has also been authorized in many of these markets for use as a third/booster dose. The protein-based COVID-19 vaccine gained authorization for use as a primary two-dose regimen in more than 40 countries, including the United States and European countries. Novavax generates all its product revenues from the sale of its protein-based COVID-19 vaccine.
Let’s see how things have shaped up for the quarter to be reported. In the last reported quarter, Novavax’s earnings missed estimates by 147.83%. It has a trailing four-quarter negative earnings surprise of 146.69%, on average. NVAX’s surprise record has been dismal so far, as its earnings missed expectations in each of the last four quarters.
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