What sector is NVAX in?

Novavax, Inc. is classified under GICS Health Care (Biotechnology).

What is NVAX's last close price?

NVAX last closed at $10.46 on 2026-09-24.

NVAX

Novavax, Inc.

Health Care · Biotechnology

$10.46last close

+21.0%~252d

Price

+21.01% over 1Y

3 auto-fib

Thesis

as of 2026-09-23

Bull case

Structural: post-pandemic biotech transitioning from in-house COVID vaccine commercialization to a royalty + milestone model after the May 2024 $SNY (Sanofi) co-exclusive license for Nuvaxovid ($500M upfront, up to $700M development/launch/sales milestones, mid-teens to high-teens royalties, plus separate Matrix-M adjuvant licensing economics on Sanofi pipeline use).

Pipeline pivots to a standalone flu vaccine (Phase 3 readout expected) and a flu/COVID combination, with the Matrix-M adjuvant as a partnership-grade platform asset.

- Sanofi deal de-risks COVID franchise - milestone + royalty cash without commercial OpEx drag

- Matrix-M adjuvant has external validation (R21/Matrix-M malaria vaccine via $GSK / Serum) and optionality for additional licensing

- Flu + flu/COVID combo program targets a multi-billion dollar annual market dominated by $SNY, $GSK, $PFE - even modest share is meaningful at sub-$2B cap

- Restructuring + headcount cuts have materially reduced cash burn from the 2022-2023 peak

Bear case

- COVID vaccine demand has collapsed into a small seasonal market dominated by mRNA ($PFE/$MRNA) - protein subunit share remains a single-digit niche

- Revenue is increasingly milestone-lumpy and dependent on $SNY execution decisions outside NVAX control

- Flu vaccine market is entrenched ($SNY, $GSK, $CSL, $PFE) - late entrant with no commercial infrastructure

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Analyze NVAX· interactive tools

Top correlated· 252d co-movement

0.57
0.47
0.41
0.40
0.40
0.39

Frequently asked questions

What sector is NVAX in?: Novavax, Inc. is classified under GICS Health Care (Biotechnology).
What is NVAX's last close price?: NVAX last closed at $10.46 on 2026-09-24.

•May 2024 - Co-exclusive licensing agreement with $SNY (Sanofi) for Nuvaxovid (adjuvanted COVID-19 vaccine): $500M upfront, up to $700M in development, regulatory and sales milestones, plus mid-teens to high-teens tiered royalties on Sanofi net sales
•May 2024 - Separate Matrix-M adjuvant licensing economics with $SNY covering use of NVAX's saponin adjuvant in undisclosed Sanofi pipeline vaccines (additional milestone + royalty layer)
•2023 - R21/Matrix-M malaria vaccine (Serum Institute / University of Oxford / $GSK adjuvant ecosystem) WHO-prequalified - external Matrix-M platform validation, no direct NVAX revenue but proves adjuvant utility
•Historical - Operation Warp Speed / BARDA $1.6B award (2020) and multiple advance purchase agreements (EU, UK, Australia, COVAX) drove pandemic-era revenue; majority now wound down

Key levels

$9.77
0.382 retr of 6.20->11.97 (52w) · 2026-09-24
Auto-computed retracement of the trailing 52w low-high leg. Recomputed on each refresh; not a curated level.
+7.1%
$9.09
0.5 retr of 6.20->11.97 (52w) · 2026-09-24
Auto-computed retracement of the trailing 52w low-high leg. Recomputed on each refresh; not a curated level.
+15.1%
$8.40
0.618 retr of 6.20->11.97 (52w) · 2026-09-24
Auto-computed retracement of the trailing 52w low-high leg. Recomputed on each refresh; not a curated level.
+24.4%
$7.43
0.786 retr of 6.20->11.97 (52w) · 2026-09-24
Out of reach · reference only
+40.6%

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Facts

Exchange: US
Currency: USD
Market cap: $1.74B
Last update: 2026-09-24

Revenue (TTM)$414M

P/E -

P/S4.2×

Net margin-59.9%