Thndr Claps » U.S. Claps » Health & Pharma💉 » Novavax loses its optimism for 2022 📉
The ClapNovavax (NASDAQ: NVAX) lowered its revenue expectations by half for 2022.The DeetsNovavax cut their expected sales for 2022 by 50%, expecting to generate $2 billion – $2.3 billion instead of $4 billion – $5 billion.Novavax recorded a loss of $6.53 per share, with revenue at $186 million for Q2 2022.They justified slashing this forecast as no new COVID-19 vaccine sales are expected for 2022.More about NovavaxNovavax was one of the companies in the race to create a COVID-19 vaccine. They fell behind in that race when they struggled to set up a manufacturing base. The demand for COVID-19 shots has significantly faltered as most people have already been vaccinated. This hurt Novavax’s revenue for Q2 2022.
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