Biotech Values

[oc631]

Just an observation on NVAX. They filed their 10-Q and the 8-K for their earnings release yet what's notably absent is the 8-K announcing the SNY deal (as of the time of this post). Anyone care to guess why?

Here's the belated 8-K


https://app.quotemedia.com/data/downloadFiling?webmasterId=101533&ref=318313470&type=HTML&symbol=NVAX&cdn=2f36774780bfe3a5d53cb140344a733d&companyName=Novavax+Inc.&formType=8-K&dateFiled=2024-05-13

The company is more forthright in their 8-K stating that SNY will become an active partner in the 2025/2026 season at the earliest. The co-commercialization agreement for covid-mono products appears [to me] to be an option but not an obligation for SNY to market Nuvaxovid. I see no language claiming SNY should use their "best efforts" in this regard. Twice in the above 8-K I see reference to a "commercialization plan [for covid-mono] agreed [to] by the Company and Sanofi" yet this commercialization plan is not disclosed. There's a slim chance competing covid/flu combos will start taking market share from mono products beginning this year and a much higher likelihood next. Will SNY begin to produce and market a covid mono product with declining market share? Nuvaxovid may be deemed non-competitive. The $175M milestone payment due upon approval of the mono product [in prefilled syringes] for the 25/26 season may very well be based on greenlighting the combo and have little to do with Nuvaxovid sales.

Questions to ponder: Will the FDA continue to grant covid EUA next season? What if Nuvaxovid isn't approved in the U.S. by the 2025/2026 season? If you have followed NVAX in the past don't say this can't happen.