Novavax Shifts From COVID Sales to R&D Focus While Updating 2025 Forecast

Novavax, Inc. (NASDAQ:NVAX) ranks among the most oversold biotech stocks to invest in. Novavax, Inc. (NASDAQ:NVAX) announced its third-quarter 2025 financial results on November 6, emphasizing the company’s continuous strategic shift from a direct COVID-19 commercial operation to an R&D-focused company, especially in partnership with Sanofi.

For the third quarter, Novavax, Inc. (NASDAQ:NVAX) reported total revenue of $70 million, an 18% drop from $85 million during the same period the previous year. Meanwhile, licensing, royalties, and other revenue rose from $43 million to $57 million as product sales fell sharply from $41 million to $13 million year-over-year.

Additionally, the company expressed confidence in its partnership strategy and royalty channels by raising its full-year 2025 adjusted revenue projection to $1,040–$1,060 million. Novavax, Inc. (NASDAQ:NVAX) further projects $610 million in Nuvaxovid product sales, and $35–45 million in adjusted supply sales.

More recently, on November 10, B. Riley Securities analyst Mayank Mamtani reiterated his Buy rating for Novavax, Inc. (NASDAQ:NVAX), while reducing its price target from $18 to $16.

Novavax, Inc. (NASDAQ:NVAX) is a biotechnology company that develops and commercializes innovative vaccines to prevent serious infectious diseases. Its products are protein-based, utilizing recombinant nanoparticle technology and its proprietary Matrix-M adjuvant to enhance the immune response.

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Disclosure: None. This article is originally published at Insider Monkey.