Quick Answer
NOVAVAX INC reported R&D Expense of $342.32 million for fiscal year 2025.
NOVAVAX INC R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $342.32M | -12.5% |
| 2024 | $391.17M | -47.0% |
| 2023 | $737.50M | -40.3% |
| 2022 | $1.24B | -51.3% |
| 2021 | $2.53B | +239.3% |
| 2020 | $747.03M | +556.2% |
| 2019 | $113.84M | -34.5% |
| 2018 | $173.80M | +3.2% |
| 2017 | $168.44M | -29.2% |
| 2016 | $237.94M | +46.3% |
| 2015 | $162.64M | +72.3% |
| 2014 | $94.42M | +61.3% |
| 2013 | $58.53M | +117.5% |
| 2012 | $26.91M | +46.5% |
| 2011 | $18.36M | -34.5% |
| 2010 | $28.03M | +8.7% |
| 2009 | $25.78M | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| September 30, 2025 | $98.27M | +12.7% | +24.0% |
| June 30, 2025 | $79.23M | -25.9% | -10.9% |
| March 31, 2025 | $88.94M | -4.0% | +2.0% |
| September 30, 2024 | $87.16M | -17.9% | -18.5% |
| June 30, 2024 | $106.95M | -51.3% | +15.4% |
| March 31, 2024 | $92.68M | -62.5% | -12.8% |
| September 30, 2023 | $106.23M | -65.1% | -51.6% |
| June 30, 2023 | $219.47M | -24.2% | -11.2% |
- NOVAVAX INC showed a decrease of -12.5% in R&D Expense compared to the prior fiscal year.
- Over the 2009–2025 period, NOVAVAX INC’s r&d expense has grown by 1227.9% (from $25.78 million to $342.32 million).
- The most recent figure is from NOVAVAX INC’s fiscal year 2025 report (Form 10-K), filed with the SEC on February 26, 2026.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
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