Novavax Delays Profitability Target to 2029
Novavax delayed its profitability target to 2029 due to timelines for a partnered vaccine trial, sending its shares down nine percent. The vaccine maker also raised its annual revenue forecast following a narrower quarterly net loss.
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Novavax pushed its profitability target to 2029 and saw shares fall 9% Thursday, despite raising its annual revenue forecast. The loss-making vaccine maker previously targeted 2028 based on a partnership with Sanofi. The delay underscores the company's reliance on external timelines for late-stage trials.
