Novavax beats revenue estimates on licensing strength
Novavax reported first-quarter revenue of $139.5 million, surpassing estimates. Shares rose nearly 7% as licensing deals offset lower COVID-19 vaccine demand.
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NOVAVAX INC reported first-quarter revenue of $139.5 million, beating analyst estimates of $78.3 million. Milestone payments from licensing deals offset declining demand for COVID-19 shots. The beat sent shares up 7% in premarket trading.
