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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