Novavax on Tuesday announced plans to cut a fourth of its workforce and unveiled promising data for its COVID-flu combination vaccine, spurring hopes of a recovery for the cash-strapped biotech and sending its shares more than 50% higher.
A woman holds a small bottle labeled with a "Coronavirus COVID-19 Vaccine" sticker and a medical syringe in front of displayed Novavax logo in this illustration taken, October 30, 2020. REUTERS/Dado Ruvicon Tuesday announced plans to cut a fourth of its workforce and unveiled promising data for its COVID-flu combination vaccine, spurring hopes of a recovery for the cash-strapped biotech and sending its shares more than 50% higher.
Chief Commercial Officer John Trizzino said the purchase contracts were "locked-in" and committed doses will be shipped during the rest of the year. Novavax, whose coronavirus vaccine is its lone marketed product after 35 years in business, is now banking on its cost-control measures and a successful trial for its COVID/flu combination vaccine candidate to help it stay afloat.
The new data comes at a time when global regulators expect COVID vaccination campaigns to be conducted annually like flu inoculations.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Novavax eases doubts on future with job cuts, COVID/flu shot dataNovavax Inc on Tuesday announced plans to cut 25% of its workforce and unveiled promising data for its COVID-influenza combination vaccine and two other shots, raising hopes of a recovery for the cash-strapped biotech.
Read more »
Novavax surges more than 25% after company unveils job cuts, positive vaccine dataNovavax still reported bleak first-quarter earnings and revenue that missed Wall Street's estimates.
Read more »
MCPSS hosting second annual career fair Tuesday afternoonLast year, the school system hired 96 employees at its first-ever career fair
Read more »
COVID Brain Fog Linked to Mood Disorders, Long COVID RiskHaving a history of anxiety or depression increases the likelihood of experiencing brain fog in the weeks following a COVID-19 infection, a new study from the University of California, Los Angeles suggests.
Read more »
Texas Rep. Slaton Resigns Ahead of Expulsion Vote Tuesday Over Alleged Sexual MisconductNorth Texas Rep. Bryan Slaton (R-Royse City, District 2) resigned Monday ahead of an expulsion vote over alleged sexual misconduct with an aide but the vote to remove him from the House is expected to go forward Tuesday.
Read more »