Novavax (NVAX) Research & Development (2010 - 2026)
Novavax (NVAX) recorded Research & Development of $70.69 million in Q2 2026, down 10.8% from $79.23 million a year earlier and down 26.0% from the prior quarter.
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Analysis
Novavax (NVAX) Research & Development (2010 - 2026) Analysis & Trends
On a TTM basis, Novavax's Research & Development came in at $340.32 million as of Jun 30, 2026, down 5.4% year-over-year; for FY2025, it was $342.32 million, down 12.5% from FY2024.
- Annual Research & Development has declined for four straight years, with a five-year compound annual growth rate of -14.5% (FY2020 to FY2025).
- Across earlier years, Research & Development came in at $391.17 million in FY2024 (-47.0%), $737.5 million in FY2023 (-40.3%), $1.24 billion in FY2022 (-51.3%) and $2.53 billion in FY2021 (+239.3%).
- The Q2 2026 figure is the lowest quarterly Research & Development since Q2 2020.
- On a year-over-year basis, Research & Development rose in two of the last eight quarters, with an average decline of 12.8%.
- Peak year-over-year performance for Research & Development in the last five years was growth of 140.0% in Q4 2021, against a decline of 73.2% in Q4 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at $95.47 million (Q1 2026), $75.88 million (Q4 2025) and $98.27 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Eli Lilly | 1,261.99 Bn | 1,235.61 Bn | 20.46 Bn | 4.25 Bn |
| 2 | Johnson & Johnson | 678.93 Bn | 598.79 Bn | 17.30 Bn | 4.65 Bn |
| 3 | AbbVie | 518.29 Bn | 486.30 Bn | 13.12 Bn | 2.57 Bn |
| 4 | Merck | 365.98 Bn | 328.92 Bn | 13.19 Bn | 4.54 Bn |
| 5 | Novartis Ag | 316.85 Bn | 290.09 Bn | - | - |
| 6 | Astrazeneca | 293.40 Bn | 267.29 Bn | 13.26 Bn | 3.89 Bn |
| 7 | Amgen | 251.78 Bn | 203.43 Bn | 7.58 Bn | 2.11 Bn |
| 8 | Gilead Sciences | 210.61 Bn | 185.71 Bn | 6.73 Bn | 1.61 Bn |
| 9 | Pfizer | 166.87 Bn | 114.23 Bn | 12.56 Bn | 3.02 Bn |
| 10 | Novavax | 1.80 Bn | -1.06 Bn | 44.81 Mn | 52.45 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 52.45 Mn |
| Jun 30, 2026 | 70.69 Mn |
| Mar 31, 2026 | 95.47 Mn |
| Dec 31, 2025 | 75.88 Mn |
| Sep 30, 2025 | 98.27 Mn |
| Jun 30, 2025 | 79.23 Mn |
| Mar 31, 2025 | 88.94 Mn |
| Dec 31, 2024 | 104.38 Mn |
| Sep 30, 2024 | 87.16 Mn |
| Jun 30, 2024 | 106.95 Mn |
| Mar 31, 2024 | 92.68 Mn |
| Dec 31, 2023 | 164.70 Mn |
| Sep 30, 2023 | 106.23 Mn |
| Jun 30, 2023 | 219.48 Mn |
| Mar 31, 2023 | 247.10 Mn |
| Dec 31, 2022 | 257.85 Mn |
| Sep 30, 2022 | 304.30 Mn |
| Jun 30, 2022 | 289.65 Mn |
| Mar 31, 2022 | 383.48 Mn |
| Dec 31, 2021 | 962.96 Mn |
API Access
Novavax Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=NVAX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "NVAX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=NVAX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();