Novavax Inc reported Q3 revenue of $187 million, beating the consensus of $158.54 million. The company is on track to exceed its global restructuring and cost reduction plan for 2023 by over $100 million. It also plans to initiate an additional cost reduction program to reduce 2024 expenses by over $300 million. Novavax reduced current liabilities by $128 million during Q3 2023 and by approximately $1 billion as of September 30, 2023. The company sees FY23 revenue of $900 million-$1.1 billion and forecasts Q1 FY24 revenue of $300 million.