Managing SG&A Costs: A Tale of Two Biotechs

In the competitive world of biotechnology, managing Selling, General, and Administrative (SG&A) expenses is crucial for financial health. Geron Corporation and Novavax, Inc. have taken different paths in this regard over the past decade. From 2014 to 2023, Geron Corporation maintained a relatively stable SG&A expense, averaging around $28 million annually. In contrast, Novavax, Inc. saw a dramatic increase, with expenses peaking at nearly $469 million in 2023, a staggering 23-fold rise from 2014.

A Decade of Financial Strategy

Geron Corporation's conservative approach reflects a steady growth strategy, while Novavax's surge in expenses aligns with its aggressive expansion and development efforts, especially during the COVID-19 pandemic. This divergence highlights the strategic choices companies make in balancing cost management with growth opportunities. As investors and stakeholders evaluate these companies, understanding their SG&A trends offers valuable insights into their operational priorities and financial strategies.