News Formal

Novavax stock price sinks 25% after Q4 warning it may go out of business

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 51%

Nigeria News News

Novavax stock plunges 25% after the COVID-19 vaccine maker warns it could go out of business

Novavax shares sank as much as 25% after the COVID-19 vaccine maker warned it has"substantial doubt" about its ability to stay in business through next year and it plans cuts to its spending.

The biotech said that while its cash-flow forecast showed it has enough capital to fund its operations, that forecast was subject to"significant uncertainty" around its 2023 revenue, US government funding and unresolved arbitration proceedings with the global vaccine alliance Gavi.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Novavax Stock Plunges 25% As Vaccine Maker Has ‘Substantial Doubt’ About Staying In BusinessShares of the pharmaceutical company have slipped below $7 after trading well above $300 at points in 2021.
Source: Forbes - 🏆 394. / 53 Read more »