Novavax Inc. reported its financial results and operational highlights for the third quarter ended September 30, 2025. The company recorded total revenue of $70 million for the quarter. Revenues from its Sanofi partnership reached $48 million in the third quarter, a 33% increase compared to $36 million in the same period last year. Licensing, royalties, and other revenue totaled $57 million, up 33% from $43 million in the prior year quarter. Product sales declined to $13 million from $41 million in the third quarter of 2024, representing a 68% decrease. Nuvaxovid sales were reported at $0, down from $38 million a year earlier. Supply sales increased to $14 million from $3 million in the previous year. Novavax highlighted continued successful execution of its Sanofi partnership, earning $225 million in milestones year-to-date, including $50 million in the fourth quarter of 2025 from marketing authorization transfers for EU and US markets. The company also completed Maryland site consolidation transactions, resulting in $60 million in cash proceeds and an expected $230 million in future cost savings over 11 years. Novavax raised its full year 2025 revenue framework and affirmed its financial guidance.