Novavax Reports Quarterly Revenue Decline Amidst Lower COVID Vaccine Demand

Thursday, 8 August 2024, 11:47

Novavax has reported a significant downturn in quarterly revenue, with a 14% drop in shares during premarket trading. The company has revised its product sales forecast to between $275 million and $375 million for the year, a marked decrease from the previous estimate of $400 million to $600 million. This decline is largely attributed to weak demand for its COVID vaccine. Novavax is currently seeking authorization for its updated fall-season COVID vaccine from U.S. and European regulators.

Yahoo Finance — Novavax Reports Quarterly Revenue Decline Amidst Lower COVID Vaccine Demand

Novavax Quarterly Revenue Report

The latest financial results from Novavax indicate a troubling trend for the company. Shares have plunged by 14% in premarket trading as a direct response to disappointing revenue figures.

Revised Product Sales Estimates

Current expectations for annual product sales are now $275 million to $375 million.
This is a significant reduction from the earlier forecast of $400 million to $600 million.

Seeking Regulatory Approval

In addition to financial setbacks, Novavax is actively pursuing the necessary authorization from U.S. and European regulators for its updated fall-season COVID vaccine.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Novavax Quarterly Revenue Report

Revised Product Sales Estimates

Seeking Regulatory Approval

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