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Novavax 2022 COVID-19 vaccine deliveries off to slow start, shares drop

Novavax on Monday (May 9) revealed a sharp drop in first-quarter COVID-19 research funding and said it shipped less than a fourth of the total vaccine deliveries slated for 2022, dragging shares of the company down nearly 16 per cent after hours.

It sold 31 million doses of the vaccine in the quarter, a small fraction of the 2 billion shots it plans to send around the world in 2022.

Still, Novavax reiterated its forecast for total revenue of US$4 billion to US$5 billion for 2022, saying it expects shipments to key markets and sales to increase in the second quarter….. read more CNA

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