The biotech company is banking on sales of its updated Covid vaccine — its only commercially available product — and a broad cost-cutting push to help it stay afloat.
Novavax's shot fends off the virus with protein-based technology, a decades-old method used in routine vaccinations against hepatitis B and shingles.
The federal government shifted Covid vaccine distribution and coverage to the private market for the first time this fall.
A sign advertises COVID-19 (coronavirus) vaccine shots at a Walgreens Pharmacy in Somerville, Massachusetts, August 14, 2023.
Some pharmacies, like Walgreens , also appear to be resolving supply disruptions, which left many stores without any new Covid shots for patients to receive.
Persons:
Patrick Van Katwijk, Novavax, aren't, Mayank Mamtani, fends, Silvia Taylor, Taylor, Novavax's, Mamtani, Hannah Beier, Jefferies, Roger Song, Brian Snyder, Biden
Organizations:
Dutch Health Service Organization, Getty, Pfizer, Moderna, Drug Administration, Riley Securities, CNBC, Covid, FDA, Bloomberg, Insurance, Walgreens, Reuters
Locations:
The Hague, Netherlands, U.S, Schwenksville , Pennsylvania, Somerville , Massachusetts