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.

While we acknowledge the potential of NVAX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NVAX and that has 100x upside potential, check out our report about this cheapest AI stock.

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