Struggling Novavax details a wave of red ink and plots survival course after raising ‘going concern’ alert – Endpoints News
https://endpts.com/struggling-novav...aising-concerns-about-its-ability-to-survive/
Novavax’s slow windup for its Covid-19 vaccine pitch has created a perilous stretch ahead for the longtime vaccine player. After the market closed on Tuesday, the company unveiled a reorganization of its executive team under John Jacobs and a warning that it is running dry of cash, setting off a going-concern alarm.
Jacobs laid out Novavax’s survival plan, outlining a drive to create a successful vaccine for the fall of this year, an expense-cutting program to carve down costs — which is expected to trigger layoffs — as well as an unspecified push past Nuvaxovid.
https://endpts.com/struggling-novav...aising-concerns-about-its-ability-to-survive/
Novavax’s slow windup for its Covid-19 vaccine pitch has created a perilous stretch ahead for the longtime vaccine player. After the market closed on Tuesday, the company unveiled a reorganization of its executive team under John Jacobs and a warning that it is running dry of cash, setting off a going-concern alarm.
Jacobs laid out Novavax’s survival plan, outlining a drive to create a successful vaccine for the fall of this year, an expense-cutting program to carve down costs — which is expected to trigger layoffs — as well as an unspecified push past Nuvaxovid.