Novavax cuts 2024 revenue forecast due to lower vaccine sales, causing shares to drop 7.8%.

Novavax has lowered its 2024 revenue forecast to $650 million to $700 million, down from $700 million to $800 million, due to lower vaccine sales. This adjustment caused its shares to drop by 7.8% to $8.31 in pre-market trading. Despite the revenue falling 54.8% to $84.51 million in the third quarter, the net loss narrowed to $121.30 million, better than expected.

November 12, 2024
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