Novavax (NVAX) Corporate presentation summary

Strategic transformation and business model evolution

• Shifted from a COVID-19-focused commercial company to a partnership-driven, R&D innovation model between 2023–2027.

• Secured major partnerships, notably with Sanofi and Pfizer, to drive growth and diversify revenue streams.

• Aggressively reduced costs and liabilities, achieving over $1.2B in annual expense reductions and $2B in liability reductions since 2022.

• Envisions a future with multiple pharma and biotech partners, targeting a diversified royalty and milestone revenue base.

• Lean, agile operating model supports core R&D and business development capabilities.

Partnership and revenue generation

• Over $0.8B in revenue generated to date from Sanofi and Pfizer agreements.

• Agreements with current partners have the potential to deliver billions in royalties and milestones, with high-value upfront and milestone payments.

• Multiple MTAs signed with top pharma and biotech companies to explore Matrix-M in infectious disease and oncology.

• More than 50% of the projected $100B+ global infectious disease and oncology vaccine market is targeted via partner licenses and MTAs.

• Illustrative Matrix-M license deals could yield over $3B in cumulative royalties per product over 20 years.

R&D innovation and technology platform

• Matrix-M adjuvant platform supports broad, potent, and long-lasting immune responses and is compatible with multiple vaccine platforms.

• Over 30 fields of experimentation underway with Matrix-M via partner programs.

• R&D efforts focus on expanding Matrix-M utility, creating new adjuvants, and developing innovative vaccine candidates.

• Pipeline includes late-stage and early-stage candidates in infectious disease and oncology, with a C. diff vaccine potentially entering the clinic by 2027.

• New data supports favorable tolerability and reactogenicity profile for Nuvaxovid compared to mRNA vaccines.