From CNBC:

Shares of Novavax plummeted over 20% after reporting fourth-quarter earnings that missed estimates and predicted flat or lower 2024 sales. Last quarter, they posted a net loss of $178.4 million and revenue of $291.3 million, down from $357.4 million year-over-year. The CEO expressed disappointment over market performance but aims to boost market share with upcoming strategies. Novavax anticipates 2024 revenue to be $800 million to $1 billion, with analysts expecting $969.6 million. They also plan to cut expenses significantly to focus on developing a combo Covid and flu vaccine to launch in 2026.



Read more at CNBC:: Novavax (NVAX) earnings report Q4 2023