Earnings Results
Drug maker warns it may not have enough cash flow to last more than a year as losses come in more than double what Wall Street expected; new chief executive named
A vial of Novavax’s COVID-19 vaccine.
Associated Press
Novavax Inc. shares shares sank in the extended session Tuesday after the biotech drug maker posted more than double the loss that analysts expected and reorganized with concerns it may not be in business in a year.
“While our current cash flow forecast for the one-year going concern look-forward period estimates that we have sufficient capital available to fund operations, this forecast is subject to significant uncertainty, including as it relates to 2023 revenue, funding from the U.S. government, and pending arbitration,”…
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Becki Noren