Novavax cuts 2024 revenue forecast again on lower COVID vaccine sales
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Novavax has reduced its 2024 revenue forecast due to lower-than-expected sales of its COVID-19 vaccine. The company is also preparing to transfer the rights to sell the vaccine to Sanofi.
November 12, 2024 | 1:30 pm
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Novavax has lowered its 2024 revenue forecast due to disappointing COVID-19 vaccine sales. The company is also set to transfer sales rights to Sanofi.
The reduction in revenue forecast indicates weaker financial performance, likely leading to a negative impact on NVAX stock. The transfer of sales rights to Sanofi suggests a strategic shift, but the immediate effect is negative due to lower sales expectations.
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