Novavax Updates 2024 Guidance: Expects Combined Revenue And Sanofi Agreement Payments Of $970M-$1.17B (Prior $800M-$1B); And Combined R&D And SG&A Of $700M-$750M (Prior $700M-$800M)
Portfolio Pulse from Benzinga Newsdesk
Novavax has updated its Full Year 2024 Financial Guidance, now expecting combined revenue and Sanofi agreement payments to range between $970M and $1.17B, up from the previous forecast of $800M to $1B. Additionally, the company anticipates combined R&D and SG&A expenses to be between $700M and $750M, a slight improvement from the prior estimate of $700M to $800M.
May 10, 2024 | 7:23 am
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Novavax's updated 2024 financial guidance indicates a positive outlook with increased revenue projections and slightly reduced expense forecasts. The upward revision in revenue, partly due to the Sanofi agreement, suggests a stronger financial position and potential for growth.
The increase in revenue forecast, especially with the inclusion of the Sanofi agreement payments, indicates a positive development for Novavax. The reduction in the upper range of R&D and SG&A expenses further suggests improved efficiency and cost management. These factors are likely to be viewed positively by investors, potentially leading to a short-term uptick in NVAX's stock price.
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