|Day's range||110.05 - 110.05|
Wall Street has high hopes for certain stocks over the coming 12 months. Two of them are biotech companies that took center stage during earlier days of the pandemic. Both companies raced to bring a coronavirus vaccine to market.
There's been lots of excitement surrounding Novavax (NASDAQ: NVAX). Cash burn is a big concern for a company such as Novavax, which is likely to see its revenue decline as demand for its COVID-19 vaccine dwindles. As of the end of March, the company had $625 million in cash and cash equivalents on the books -- down by more than half from more than $1.3 billion it reported at the end of 2022.
Select analysts believe three former high-flying stocks can make their shareholders significantly richer.
On May 9, Novavax (NASDAQ: NVAX) shareholders got a much-needed reprieve from the stock's downward trajectory over the last year. Novavax's decline is a regrettable one. Its coronavirus vaccine candidate ran into regulatory issues during clinical development, and arrived on the market much later than those of competitors like Pfizer and Moderna.
The World Health Organization recently announced covid is no longer a global emergency. Hooray! That is unless you're Novavax, the biotech outfit...
Shareholders in Novavax, Inc. ( NASDAQ:NVAX ) may be thrilled to learn that the analysts have just delivered a major...
Novavax (NASDAQ: NVAX) investors have been on edge ever since the company fell behind in the coronavirus vaccine race. To make matters worse, earlier this year, Novavax even questioned its ability to continue operations. Jacobs revealed details about his strategy to cut costs, manage cash flow, and match Novavax's size to the demand for its only product: the coronavirus vaccine.
In the early days of the COVID-19 pandemic, Novavax (NASDAQ: NVAX) took center stage. The biotech company became one of the first to enter clinical trials with a coronavirus vaccine candidate. Novavax's vaccine launched a year after those of the company's rivals, meaning Novavax missed out on the biggest revenue opportunity.
Novavax (NVAX) reports dismal Q1 earnings results, as earnings and revenues miss estimates. However, shares rise on the back of encouraging 2023 guidance and cost-reduction initiatives.
A Biotech Company Developing Vaccines and a Restaurant Stock with Earnings Growth.
Yahoo Finance health care reporter Anjalee Khemlani details Novavax's latest earnings report.
Novavax is under pressure to advance its pipeline as the public health emergency ends and Covid demand wanes.
Yahoo Finance Live’s Julie Hyman reports that Novavax will reduce its global workforce by 25%.
(Bloomberg) -- Novavax Inc. shares gained the most in two years after the Covid-19 vaccine maker announced a restructuring plan that includes cutting about 25% of its global workforce. Most Read from BloombergVanguard’s Trillion-Dollar Man Leads a Fixed-Income RevolutionTrump Liable for Sex Abuse, Must Pay $5 Million to CarrollItaly Intends to Exit China Belt and Road Pact as Relations SourGoldman to Pay $215 Million to End Case on Underpaying WomenSteve Schwarzman Holds Off Giving Money to DeSa
Novavax (NVAX) delivered earnings and revenue surprises of -0.89% and 40.99%, respectively, for the quarter ended March 2023. Do the numbers hold clues to what lies ahead for the stock?
(Reuters) -COVID-19 vaccine maker Novavax Inc on Tuesday forecast much higher 2023 revenue than Wall Street expected and announced plans to cut a quarter of its workforce, spurring hopes of a recovery for the cash-strapped biotech, and its shares jumped 40%. Novavax, whose COVID vaccine is its lone marketed product after 35 years in business, is relying on launching an updated COVID shot this fall to match circulating strains and cost cuts to improve its prospects. The Maryland-based drugmaker on Tuesday also unveiled promising early data for its COVID and flu combination vaccine.
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Let us look at five biotech companies, NVAX, EBS, BLUE, EXEL and NKTR, which are gearing up for their earnings release.
In the latest trading session, Novavax (NVAX) closed at $7.15, marking a +1.56% move from the previous day.
Novavax (NVAX) closed the most recent trading day at $7.53, moving -1.31% from the previous trading session.
Novavax (NVAX) is expected to provide updates on its ongoing clinical development in the first quarter of 2023.
Novavax made a huge bet on the coronavirus vaccine market early in the pandemic. Many people expressed skepticism regarding the mRNA-based candidates that dominated the hunt for an effective vaccine early on, but Novavax's Nuvaxovid is a protein-based vaccine.
Right now, Novavax (NASDAQ: NVAX) and Vaxart (NASDAQ: VXRT) are in this situation. Both were favorites in the early days of the coronavirus vaccine race. Novavax shares soared more than 2,700% back in 2020.
Moderna (NASDAQ: MRNA) knows that it needs new products. The good news is that Moderna has three vaccine candidates in late-stage testing. Moderna reported more disappointing results for its experimental flu vaccine last week.
Despite losing most of their value, these former Wall Street darlings have been popular buys among billionaire money managers.