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    NVAX   US6700024010

NOVAVAX, INC.

(NVAX)
  Report
Delayed Nasdaq  -  04:00:00 2023-01-26 pm EST
10.98 USD   -1.17%
02:32pNovavax needs 6 months to produce annual COVID shots that match new variants
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01/25Novavax Announces Grant of Inducement Awards Pursuant to Nasdaq Listing Rule 5635(c)(4)
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01/20River Private Wealth announces new round of investment in Novavax, Inc
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Novavax - Termination of COVID-19 Vaccine Purchase Agreement with Gavi

11/24/2022 | 10:17am EST

On Nov 21, Novavax announced an update to its agreement with Gavi, the Vaccine Alliance, related to the Advanced Purchase Agreement (APA) for 350 million doses of the company's COVID-19 vaccine.

Novavax has been ready to meet our commitment to manufacture and deliver doses for the COVAX facility. Given that vaccination rates in developing countries remain below targets set by public health authorities, our hope was that the Novavax vaccine might help diversify the available COVAX vaccine portfolio and offer an ability to address key logistical and uptake challenges through our vaccine's refrigerator stability and more traditional vaccine technology.

Novavax terminated the agreement due to Gavi's failure to purchase the contracted COVID-19 vaccines before the end of 2022.

Under the terms of the APA, the advance payments made by Gavi to Novavax are not refundable, and as such, Novavax does not expect to incur any penalties in connection with the termination of the APA.

Novavax values its relationship with Gavi given our collective mission. We hope to negotiate a new agreement to ensure our COVID vaccine and other promising pipeline vaccines can contribute to the global role of vaccines in preventing serious infectious diseases.

In the meantime, Novavax and our partners continue to deliver our COVID-19 vaccine to customers globally to support vaccination efforts and protect public health.

Contact:

Tel: (240) 268-2022

(C) 2022 Electronic News Publishing, source ENP Newswire

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Analyst Recommendations on NOVAVAX, INC.
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Financials (USD)
Sales 2022 1 947 M - -
Net income 2022 -535 M - -
Net cash 2022 1 455 M - -
P/E ratio 2022 -1,56x
Yield 2022 -
Capitalization 955 M 955 M -
EV / Sales 2022 -0,26x
EV / Sales 2023 -0,40x
Nbr of Employees 1 541
Free-Float 98,6%
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Technical analysis trends NOVAVAX, INC.
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 6
Last Close Price 11,11 $
Average target price 55,33 $
Spread / Average Target 398%
EPS Revisions
Managers and Directors
Stanley C. Erck President, Chief Executive Officer & Director
James Patrick Kelly Chief Financial Officer, Treasurer & Executive VP
James F. Young Chairman
Gregory M. Glenn President-Research & Development
Biegie Lee Chief Information Officer & Senior Vice President
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