Layoffs will affect 20% of full-time Novavax employees
A healthcare worker administers a dose of the Novavax Covid-19 vaccine at a pharmacy in Schwenksville, Pennsylvania, on Aug. 1, 2022.
On Tuesday, the company announced that it made significant progress on key priorities including its efforts to deliver an updated COVID vaccine for the fall. and a coronavirus-flu shot combination. The company said it received "positive Phase 2 data that we believe supports the further development of our combination COVID-influenza, standalone influenza, and high-dose COVID vaccines."
The company expects to generate revenue of about $1.4 billion and $1.6 billion for 2023, well above analysts' expectations. The Associated Press contributed to this report.
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