Novavax Inc. filings document formal disclosures for a Nasdaq-listed biotechnology company focused on vaccine products, Matrix-M adjuvant technology and partnership-driven development. Recent 8-K reports record operating results, preliminary financial information, licensing arrangements for Matrix-M, Nuvaxovid marketing-authorization transfers, and facility-related agreements.
Proxy materials describe board matters, executive compensation, equity awards, shareholder voting items and governance procedures. The filings also identify Novavax common stock, par value $0.01 per share, as listed on The Nasdaq Global Select Market under NVAX.
NOVAVAX, Inc. (NVAX) common stock beneficial ownership is reported by Shah Capital Management, Inc., Shah Capital Fund LLC and Himanshu H. Shah, President and Chief Investment Officer of Shah Capital. Shah Capital Management reported 10,543,476 shares (6.39%), and Shah Capital Fund reported 6,230,000 shares (3.78%). Himanshu H. Shah reported 10,656,964 shares (6.46%), including 10,543,476 shares with shared voting and dispositive power and 113,488 shares with sole voting and dispositive power.
NOVAVAX, Inc. (NVAX) ownership disclosure was amended by Shah Capital Management, Shah Capital Fund LLC and Himanshu H. Shah. They report beneficial ownership of 10,543,476 shares (6.39%), 6,230,000 shares (3.78%) and 10,656,964 shares (6.46%), respectively. These interests overlap through shares attributed to Shah Capital Fund and managed accounts; Himanshu H. Shah directly owns 113,488 shares. The reported percentages are based on 165 million shares outstanding as of July 31, 2026.
Shah Capital Fund LLC reported total sales of 2,870,000 shares as of October 5, 2026, at an average price of $11.3486. Shah Capital Management withdrew its investment-adviser registration effective October 16, 2026. The reporting persons say they no longer hold the shares for the purpose of influencing control and intend to report on Schedule 13G going forward, following a restructuring involving Himanshu Shah Family Office LLC.
State Street Corporation reported significant ownership in Novavax, Inc. common stock. State Street and its investment management affiliates beneficially owned 11,740,566 shares of Novavax common stock, representing 7.1% of the class.
State Street reported no sole voting or dispositive power over Novavax shares. It has shared voting power over 11,281,036 shares and shared dispositive power over all 11,740,566 beneficially owned shares, reflecting holdings managed through its global advisor and trust subsidiaries.
Novavax, Inc. reported second quarter 2026 total revenue of $57 million, a 76% decrease from $239 million in the same period in 2025, when results included $202 million from a Nuvaxovid U.S. BLA approval milestone and a Takeda amendment. Product sales were $19 million, 76% higher year over year, driven by greater Matrix‑M adjuvant demand and sales to license partners.
GAAP R&D expense was $71 million and SG&A was $27 million; non‑GAAP R&D fell to $48 million and non‑GAAP combined R&D and SG&A to $74.8 million, reflecting cost‑reduction initiatives and the transition of commercial activities to Sanofi. Novavax recorded a net loss of $53 million versus net income of $107 million a year earlier. Cash, cash equivalents, marketable securities and restricted cash totaled $724 million as of June 30, 2026. For full year 2026, the company now guides GAAP combined R&D and SG&A expenses to $370–$410 million and raises its adjusted total revenue framework to $235–$275 million, excluding Sanofi supply sales, royalties and milestones.
Novavax, Inc. reported sharply lower revenue and a return to losses for the quarter ended June 30, 2026. Total revenue was $56.7 million (56,698 in thousands), down from $239.2 million a year earlier, as licensing and milestone revenue declined, partly offset by higher product and supply sales.
The company posted a net loss of $53.4 million (53,387 in thousands) versus net income of $106.5 million in the prior-year quarter, and a six‑month net loss of $62.9 million. Net cash used in operating activities for the first half was $105.2 million. Long‑term debt increased to 291,490 (in thousands) after a $50.0 million initial draw under a new senior secured Credit Agreement maturing in 2031.
As of June 30, 2026, Novavax held $191.5 million in cash and cash equivalents and $527.9 million in marketable securities, for total cash, restricted cash, and securities of $723.9 million and working capital of $440.5 million. Management concluded these resources are sufficient to fund operations for at least one year. Results continue to depend heavily on COVID‑19 vaccine collaborations and licensing arrangements with partners including Sanofi, Pfizer, Takeda, Serum, and on the Gavi settlement structure and ongoing restructuring and cost‑reduction efforts.
Novavax director Richard J. Rodgers reported equity compensation activity and an RSU vesting-related exercise. On June 20, 2026, he exercised 18,880 restricted stock units into 18,880 shares of common stock, bringing his direct common stock holdings to 47,370 shares.
Two days earlier, on June 18, 2026, he received grants of 14,180 new RSUs and 21,270 stock options with a $9.13 exercise price, each tied to the company’s Amended and Restated 2015 Stock Incentive Plan. Both the new RSUs and options vest 100% on the first anniversary of the June 18, 2026 grant date, subject to continued board service. The RSU exercise reflects full vesting of a prior June 20, 2025 RSU grant.
Novavax director Rachel K. King reported equity compensation activity and no share sales. On June 20, 2026 she exercised 18,880 restricted stock units (RSUs), receiving 18,880 shares of common stock, bringing her direct common stock holdings to 44,070 shares.
On June 18, 2026 she received two new awards under Novavax’s Amended and Restated 2015 Stock Incentive Plan: 14,180 RSUs and a stock option for 21,270 shares of common stock at an exercise price of $9.13 per share. The footnotes state that 100% of the new RSUs and option shares will vest on the first anniversary of the June 18, 2026 grant date, subject to her continued service on the board.
Novavax director Richard Douglas reported equity compensation activity, not open-market trading. On June 20, 2026, he exercised 18,880 restricted stock units, receiving the same number of Novavax common shares at no cash cost, bringing his direct holdings to 73,220 shares.
On June 18, 2026, he was granted 14,180 new restricted stock units and a stock option for 21,270 shares with a $9.13 exercise price. Footnotes state that 100% of these RSUs and options vest on the first anniversary of the grant date, subject to his continued service on the board.
Novavax director Margaret G. McGlynn reported equity compensation and an option exercise. On June 18, 2026, she received 14,180 Restricted Stock Units (RSUs) and 21,270 stock options, each RSU and option tied to one share of common stock. The options have a $9.13 per-share exercise price and will fully vest on the first anniversary of the grant date, subject to her continued board service.
On June 20, 2026, previously granted RSUs covering 18,880 shares vested and were exercised into the same number of Novavax common shares, leaving no remaining RSUs from that 2025 grant. After these transactions, she directly holds 44,468 shares of Novavax common stock. All reported activity reflects equity awards and vesting rather than any open-market buying or selling.
Novavax director David M. Mott reported equity compensation and an RSU vesting event. On June 18, 2026, he received grants of 14,180 Restricted Stock Units and a stock option for 21,270 shares of common stock with a $9.13 exercise price. Both awards vest 100% on the first anniversary of the grant date, subject to his continued service on the Board.
On June 20, 2026, 18,880 previously granted RSUs fully vested and were converted into 18,880 shares of Novavax common stock. Following this conversion, he directly holds 79,770 shares of common stock. These transactions reflect compensation-related awards and an option-style RSU conversion, with no open-market buying or selling.