Novavax (NVAX) shares are surging 5.38% in pre-market trading on Thursday, following the release of its stellar first-quarter results and an impressive outlook for 2025. The biotechnology company has significantly outperformed analysts' expectations, demonstrating strong financial performance and future growth potential.

The company reported a first-quarter earnings per share (EPS) of $2.93, dramatically exceeding the consensus estimate of $0.71. This substantial beat indicates a robust bottom-line performance that has caught investors' attention. Additionally, Novavax's Q1 revenue came in at $666.7 million, almost doubling the expected $343.9 million, showcasing the company's ability to generate strong sales in the current market environment.

Adding to the positive sentiment, Novavax provided an optimistic outlook for 2025. The company projects adjusted revenue for the year to be between $975 million and $1,025 million, significantly higher than analysts' estimates of $724.2 million. This forward-looking guidance suggests continued growth and market expansion for Novavax, further fueling investor enthusiasm and contributing to the pre-market stock surge.