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COVID-19 Vaccine Maker Novavax Trims Annual Outlook As Q2 Sales Take A Hit
On Thursday, Novavax Inc (NASDAQ:NVAX) reported second-quarter 2024 sales of $415 million, compared to $424 million a year, missing the consensus of $458.6 million.
Second quarter 2024 licensing, royalties, and other revenue include $391 million associated with the $500 million upfront payment received under the Sanofi SA (NASDAQ:SNY) agreement.
The COVID-19 vaccine maker reported EPS of $0.99, up from $0.58 a year ago, but it missed the consensus of $1.64.
Net income for the second quarter of 2024 was $162 million, compared to a net income of $58 million in the same period in 2023.
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