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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