Novavax stock falls 20% as vaccine maker misses quarterly estimates, sees sluggish 2024 sales
Publishing timestamp: 2024-02-28 09:57:13
Summary
Novavax shares fell after reporting Q4 revenue and earnings below estimates, with expectations of flat or lower sales in 2024. The company narrowed its losses but faced challenges in gaining market share for its Covid vaccine in the US. Novavax plans to increase market share by rolling out a new Covid shot and cutting expenses. The company also settled an arbitration dispute with Gavi.
Sentiment: NEGATIVE
Tickers: NVAX,
Keywords: business news, pharmaceuticals, breaking news, biotechnology, novavax inc, biotech and pharmaceuticals, earnings, health care industry, business,
Source: https://www.cnbc.com/2024/02/28/novavax-nvax-earnings-report-q4-2023.html