Novavax (NVAX) risk factors

Item 1A of every Novavax Inc. 10-K on file, and what changed from one year to the next. Readings are automated and can be wrong; check the filing for the exact wording.

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FY2025 10-K risk factors
65 risks24 new17 dropped16 reworded
Novavax faces significant execution risk regarding its reliance on Sanofi for commercialization and third parties for manufacturing.
Filed Feb 26, 2026
FY2024 10-K risk factors
58 risks
Novavax carries a $5.0 billion accumulated deficit and depends heavily on Sanofi and third-party contractors for vaccine manufacturing and commercialization. Regulatory approval timelines and the evolving nature of SARS-CoV-2 variants drive core business risks.
Filed Feb 27, 2025