Reported 12 days ago
Novavax's stock fell over 6% after the company lowered its annual revenue guidance to $650-$700 million, down from $700-$800 million. The company reported a significant drop in quarterly revenues, falling to $85 million from $187 million the previous year, with a loss of $0.76 per share. Novavax intends to offset its challenges through a $1.2 billion deal with Sanofi and other licensing agreements for its adjuvant, Matrix-M, while also shifting focus to early-stage product development and scaling back R&D investments by $1.4 billion over the next two years.
Source: YAHOO