No­vavax rais­es warn­ing about abil­i­ty to stay in busi­ness

No­vavax said it may not be able to stay in busi­ness if it can’t sta­bi­lize its rev­enue and be­come prof­itable, a sur­prise warn­ing from a com­pa­ny that just a few years ago was rid­ing high on the po­ten­tial of its Covid-19 vac­cines.

In its quar­ter­ly fi­nan­cial re­sults is­sued Tues­day, the com­pa­ny said that “sub­stan­tial doubt ex­ists re­gard­ing our abil­i­ty to con­tin­ue as a go­ing con­cern.” The vac­cine mak­er said that it be­lieves it has enough cash to get it through the next year of op­er­a­tions if 2023 rev­enues, US gov­ern­ment fund­ing and oth­er mat­ters progress as ex­pect­ed. But it called those pro­jec­tions sub­ject to “sig­nif­i­cant un­cer­tain­ty.”

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