Novavax Q3 Earnings & Sales Beat, Stock Falls 6% on '24 View Cut
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Novavax reported strong third-quarter earnings and sales, but its stock fell by 6% after the company lowered its sales guidance for 2024 due to reduced COVID-19 vaccine uptake.
November 13, 2024 | 2:30 pm
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Novavax's stock fell 6% despite strong Q3 earnings due to a cut in 2024 sales guidance, attributed to lower COVID-19 vaccine uptake.
The stock price decline is directly linked to the company's announcement of reduced sales guidance for 2024, which overshadowed the positive earnings report. The market reacted negatively to the anticipated lower demand for COVID-19 vaccines.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100