BUZZ-Novavax shares surge as licensing deal boosts annual revenue outlook

November 5 - ** Vaccine manufacturer Novavax shares NVAX.O rose 2% in pre-market trading to $10.86

** The company has been relying on licensing agreements and partnerships related to its protein vaccine platform

** The company expects (link) adjusted revenue for fiscal 2026 to reach between $385 million and $415 million, above the previous forecast of $235 million to $275 million

** The currently loss-making company is pinning its hopes on a licensing agreement with Sanofi worth at least $1.2 billion SASY.PA, aiming to achieve profitability before 2028

** Sanofi plans to launch a late-stage clinical trial of its flu-COVID combination vaccine in the United States in 2027; once the vaccine is launched in the US, NVAX will be eligible for a $225 million milestone payment

** "We plan to bring in new partners, which is at the core of our business model," CEO John Jacobs said

** According to data compiled by the London Stock Exchange Group (LSEG), the company's third-quarter revenue was $68 million, exceeding analysts' expectations of $50.4 million

** Of nine brokers, five rate the stock a “buy” or higher, one rates it “hold,” and three rate it “sell” or lower; the median price target is $11—LSEG data

** As of the previous trading day's close, the stock has risen 58.5% so far this year

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