Novavax's 2024 Sales Forecast Disappoints, Stock Plummets
TL;DR Summary
Novavax, Inc. reported fourth quarter and full year 2023 financial results, achieving revenues of $291 million and $1.0 billion, respectively, and provided full year 2024 total revenue guidance of $800 million to $1 billion. The company also announced a 30% reduction in total headcount compared to Q1 2023, settled a dispute with Gavi, and plans to initiate a pivotal Phase 3 trial for a COVID-19-Influenza Combination vaccine candidate in the second half of 2024 with a potential launch in 2026. Novavax aims to improve its commercial performance in 2024 and 2025 and diversify its revenue opportunities.
Topics:business#business#covid-19-vaccine#financial-results#novavax#operational-highlights#revenue-guidance
- Novavax Reports Fourth Quarter and Full Year 2023 Financial Results and Operational Highlights - Feb 28, 2024 Novavax Investor Relations
- Novavax says still faces strong headwinds, 2024 sales flat to lower Yahoo Finance
- Novavax stock falls 20% as vaccine maker misses quarterly estimates, sees sluggish 2024 sales CNBC
- Novavax Stock Sinks as Revenue Misses Estimates in ‘Transition Year’ Barron's
- After steep cost cuts, Novavax's fourth-quarter performance falls short of expectations FiercePharma
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