Novavax Struggles Continue: Q4 2023 Earnings Disappoint

Novavax, a COVID-19 vaccine maker, anticipates flat or lower revenue for 2024 as it struggles to compete with larger rivals Pfizer and Moderna in the U.S. market. The company reported a larger-than-expected fourth-quarter loss and expects 2024 sales to be less than $25 million. Novavax aims to improve its market share by targeting retail pharmacy chains and offering more convenient prefilled syringes. Despite financial challenges and doubts about its ability to remain in business, the company plans to drive down costs and focus on commercial execution.