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Mon, Oct 5 09:01 PM
Non-Compliant

NVAX

Quality Rating

B
Minimal compliance quality

Novavax, Inc. (NVAX) is a biotechnology company specializing in vaccine development for infectious diseases, with a core business that aligns with Shariah principles by promoting public health. However, financial screening reveals challenges, particularly a high liquidity ratio exceeding thresholds across major standards, leading to non-compliance in index inclusions. The company's permissible activities and low non-permissible income are positive, but purification is required for minor interest income. Overall, while business activities are compliant, financial metrics result in a non-compliant status per index methodologies. Investors should monitor debt and cash management improvements for potential future compliance.

Purification Required
0.95%
minimal

Minimal purification needed for dividend income

Index Inclusion

Not included in any major Shariah indices: S&P Dow Jones, MSCI Islamic, FTSE Shariah, or DJIM

Key Compliance Considerations

Debt Ratio

18.8%

Liquidity Ratio

60.2%

Interest Income Ratio

0.0%

Purification

0.95%