Novavax Q3 Earnings Disappoint, But A Turnaround May Be Underway
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Novavax reported a Q3 net loss of $0.76/share and $84.5M in revenue, beating estimates but cutting guidance due to lower COVID-19 vaccine sales. The company is implementing a cost reduction program and collaborating with Sanofi to focus on new vaccine developments.
November 13, 2024 | 12:45 pm
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Novavax's Q3 earnings beat estimates, but guidance was cut due to declining COVID-19 vaccine sales. The company is focusing on cost reduction and a collaboration with Sanofi to develop new vaccines.
Despite beating earnings estimates, Novavax's guidance cut due to lower vaccine sales is a concern. However, the cost reduction program and Sanofi collaboration could stabilize and potentially grow the company, balancing the short-term impact.
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IMPORTANCE 80
RELEVANCE 100