No­vavax trims $50M in costs but did not re­duce head­count, CEO says

Covid-19 vac­cine man­u­fac­tur­er No­vavax cut $50 mil­lion worth of ex­pens­es in the first quar­ter of this year but did not lay off any staff, CEO John Ja­cobs wrote in an emailed state­ment to End­points News. 

The cuts come as No­vavax said it hit the pause but­ton on de­vel­op­ing an RSV vac­cine af­ter mul­ti­ple Phase III fail­ures and is now fo­cused on its oth­er vac­cines.

“We have paused the clin­i­cal de­vel­op­ment of RSV and we re­main fo­cused on de­vel­op­ing our COVID-19 vac­cine in­clud­ing against vari­ants while al­so eval­u­at­ing our in­fluen­za and com­bi­na­tion vac­cines,” Ja­cobs said.

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