AMALY — SHARIAH COMPLIANCE REPORT
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Symbol: NVAX
Report Date: 2026-10-05
Full Report: https://amaly.io/stock/NVAX

EXECUTIVE SUMMARY
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Compliance Status: NON_COMPLIANT
Quality Rating: B
Description: 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.

Primary Compliance Concerns:
- Liquidity Ratio: 60.17% (threshold: 30%)
- Interest Income Ratio: 0.95% (threshold: 5%)

Purification Requirement: 0.95%
Index Inclusion: Not included in any major Shariah indices: S&P Dow Jones, MSCI Islamic, FTSE Shariah, or DJIM

KEY FINANCIAL METRICS
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Debt Ratio: 18.8%
Liquidity Ratio: 60.2%
Interest Income Ratio: 0.0%
Purification Required: 0.95%

INDEX INCLUSION STATUS
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S&P Shariah: EXCLUDED
MSCI Islamic: EXCLUDED
DJIM: EXCLUDED
FTSE Shariah: EXCLUDED
Total: 0 of 4
Last Verified: 2025-12-15

REPORTING PERIOD
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Latest Annual Report: FY 2025
Latest Quarterly Data: Q4 2025
Trend Period: FY 2020 to FY 2025
Data Retrieved: 2026-03-01T12:00:00Z

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Full interactive report: https://amaly.io/stock/NVAX
Provided by Amaly (https://amaly.io) — Shariah Compliant Stock Screener
Disclaimer: This data is for informational purposes only and does not constitute financial or religious advice.