COVID vaccine maker Novavax reports better-than-expected revenue
Novavax reported revenue of $187 million for the quarter, down from $734.58 million a year ago, but above analysts' expectations of $158.5 million, according to LSEG data. "We've really optimized that U.S. grant opportunity, which was something that was uncertain at the beginning of the year," Novavax CEO John Jacobs said in an interview, adding that the government had shortened the timeline for being able to tap into those funds. The Maryland-based biotech has flagged concerns about its ability to remain in business and has been banking on cost cuts and commercial sales ...