Novavax Q1 revenue falls 79% to $140M; signs Matrix-M deals with Pfizer, others

Filed May 6, 2026 · Period ending May 6, 2026 · ~1 min read

Key Changes

• high

  Q1 2026 revenue of $140M, down 79% year-over-year, primarily due to prior-year $603M non-cash revenue from closed advance purchase agreements. Licensing revenue of $97M included $30M from Pfizer Matrix-M deal.

  Exhibit 99.1 verify on EDGAR →
• high

  Pfizer Matrix-M license signed January 2026 for two infectious disease areas: $30M upfront (received Q1), up to $500M in milestones, and high-mid-single digit royalties on product sales.

  Exhibit 99.1 verify on EDGAR →
• high

  Four new or expanded Matrix-M material transfer agreements signed in Q1 2026, including with a top-ten pharma for oncology and infectious disease targets. Company now has agreements with four of top ten global pharmas covering 30+ fields.

  Exhibit 99.1 verify on EDGAR →