Novavax Inc cut about $50 million in costs in the first quarter of 2023 and plans to slash more, Chief Executive John Jacobs said in an interview on Wednesday.
cut about $50 million in costs in the first quarter of 2023 and plans to slash more, Chief Executive John Jacobs said in an interview on Wednesday.
Jacobs also said the company is in regular talks with the U.S. Food and Drug Administration over the potential design of its 2023 COVID-19 booster shot, and believes Novavax will have a new shot ready in time for the fall. The company’s stock plunged to a three-year low in March after the Maryland-based vaccine maker in late Februaryabout its ability to remain in business, flagging uncertainty around its 2023 revenue, funding from the U.S. government, and pending arbitration with global vaccine alliance Gavi.
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