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This statistic highlights Novavax’s Revenue by Segment, split between Government contracts and Grant & others, reported on a quarterly basis from Q1 2016 onwards.
Novavax, Inc. generated total revenue of $447.23 million in Q1 2021 from the following segments:
|Segment||Q1 2021||Q1 2020||YoY Growth||Revenue share in Q1 2021|
|Grant and other||$64.53||$3.38||1809%||14%|
(All figures in millions, except percentages)
Novavax generates revenue by entering into government contracts. In Q1 2021, Novavax generated revenue from the Operation Warp Speed (OWS) contract and Department of Defense (DoD) contract amounting to $382.7 million. OWS contract was a public-private partnership launched by the United States government to accelerate the development, production, and distribution of COVID-19 vaccines, diagnostics, and therapeutics. The OWS Programme was officially announced on May 15, 2020. In Q1 2021 Novavax revenue from the OWS contract was $364 million.
In June 2020, Novavax was awarded a contract by the U.S. Department of Defense (DoD) for the manufacturing of NVX‑CoV2373. NVX‑CoV2373 consists of a stable, prefusion protein antigen that is composed using its proprietary nanoparticle technology and includes Novavax’s proprietary Matrix‑M™ adjuvant. As a part of the DoD contract, Novavax worked with a U.S.-based biologics contract development manufacturing organization (CDMO) to manufacture the antigen component of NVX-CoV2373 for at least 10 million doses of vaccine. In Q1 2021 Novavax revenue from the DoD contract was $19 million.
Grant & others.
In Q1 2021, under this segment, Novavax received funding under Coalition for Epidemic Preparedness Innovations (CEPI) agreement and the Bill & Melinda Gates Foundation (BMGF) amounting to $64.53 million. CEPI provides funding for the development and manufacturing of Novavax’s NVX-CoV2373 coronavirus vaccine candidate against SARS-CoV-2. The purpose of CEPI is to accelerate the development of vaccines to fight against emerging infectious diseases and to provide these vaccines to people during outbreaks. In Q1 2021, Novavax’s revenue from CEPI was $62 million. BMGF provides funding to Novavax through the Serum Institute of India. In Q1 2021, Novavax’s revenue from BMGF was $2 million. Novavax also generated revenue from license and clinical development agreements.
In Q1 2021, Novavax’s total revenue was $447.23 million, which increased by 13,132% from $3.38 million in Q1 2020. This increase in revenue was due to increased development activities relating to NVX-CoV2373 under the OWS Agreement and the CEPI Funding Agreement.
Novavax, Inc., is an American-based company established in 1987. Its headquarter is in Maryland, United States. Novavax’s common stocks are traded on the NASDAQ Global Select Market under the trading symbol “NVAX”.
It is a biotechnology company that discovers, develops, and markets vaccines to counter serious infectious diseases. It has developed experimental vaccines for the world’s most devastating diseases, including COVID-19 as well as RSV, Ebola, SARS, influenza, and MERS. It is also developing proprietary immune-stimulating saponin-based adjuvants at Novavax AB which is the wholly-owned Swedish subsidiary. It has partnered and collaborated with Coalition for Epidemic Preparedness Innovations (CEPI), The Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense (JPEO-CBRND), Serum Institute of India (SII), and CPL Biologicals Ltd. Some of its competitors are Proteus Digital Health, Indalo Therapeutics, CosmosID, and MicroBiome Therapeutics.
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