Novavax down on lowered guidance

(CercleFinance.com) - Novavax dropped 10% after the biotech company lowered its target revenue range for 2024 to between $650 and $700 million, compared with its previous forecast of $700-800 million.


In detail, while the vaccine group raised its annual assumption for licensing, royalty and other revenues to $475 million, it lowered its target range for product sales to between $175 and $225 million.

In the third quarter of 2024, Novavax posted a net loss of $121 million, down slightly year-on-year thanks to lower expenses, but revenues fell by more than half (-55%) to $85 million.

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