Reported 12 days ago
Novavax has once again lowered its revenue forecast for 2024, now estimating between $175 million and $225 million in sales for its COVID-19 vaccine, amid disappointing market performance. This revision precedes the transfer of sales rights to Sanofi, as Novavax continues to struggle against competitors like Moderna and Pfizer. The company has also adjusted its total revenue expectations for 2024 to between $650 million and $700 million, significantly down from earlier estimates of up to $1 billion. Despite a slight increase in third-quarter COVID vaccine sales compared to expectations, Novavax reported a net loss of $121 million.
Source: YAHOO