No­vavax shares shred­ded as Covid vac­cine sales fall more than 90% in Q2

Months af­ter No­vavax cel­e­brat­ed its first prof­itable quar­ter as a com­mer­cial com­pa­ny, the Gaithers­burg, MD-based com­pa­ny is back in the red.

Sales for No­vavax’s Covid-19 vac­cine slipped to $55 mil­lion last quar­ter, down from $586 mil­lion in Q1, CEO Stan­ley Er­ck re­vealed on Mon­day af­ter mar­ket close. The com­pa­ny’s stock $NVAX plum­met­ed more than 32% in af­ter-hours trad­ing.

Up­on kick­ing off the call with an­a­lysts and in­vestors, Er­ck ad­dressed the ele­phant in the room:

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