Coronavirus vaccine maker posted its first profit last quarter but still missed market expectations

US biotech company Novavax finally turned a profit last quarter.Reuters


US Biotech company Novavax finally stopped losing money last quarter, turned in a profitable transcript for the first time ever, and reiterated this year’sRevenueOutlook remained at $4 billion to $5 billion.

Novavax’s net profit for the first three months of this year was $203 million, far better than a net loss of $222.7 million in the same period last year. However, adjusted EPS was $2.56, lower than the market’s estimated $2.69; Revenue was $704 million, whichever was less. The market expected $845 million.


this housevaccineThe factory plans to deliver 2 billion doses of the new Crown vaccine globally this year, but global vaccine demand is still fraught with uncertainty, and some orders are still unclear.

Reuters reported that Novavax said in September last year that it targeted to deliver at least 2 billion doses of the new Crown vaccine in 2022, while the company actually reported about 42 million doses of the vaccine globally in the first quarter of this year. Million doses have been distributed. The company’s Kovid-19 vaccine is authorized in 41 countries around the world, but as of this summer, the U.S. Not authorized by the FDA. Even Japan did not approve it until mid-April this year.

Novavax Chief Operating and Commercial Officer John Trizzino said in an earnings call that “continued to seeLow incomethe country’s low vaccination rate, but “to date, we have not received an order from the Gavi Alliance for Vaccines and Immunization (Gavi), and the timing and number of future deliveries of 2,373 doses (vaccine) for the COVAX program are unclear “.

The COVAX program, led by the World Health Organization (WHO) and the Global Alliance for Vaccines and Immunization (Gavi), aims to equitably distribute the new Crown vaccine in countries around the world. Novavax’s new Crown vaccine uses more traditional technology, so it’s more likely to be adopted by people who are hesitant about Pfizer’s and Moderna’s mRNA vaccines.

Vaccine revenue low income


Of earlier

US CPI annual growth rate falls for the first time in 8 months Inflation pressure remains heavy

next

Inflation figures still high, stock index first climbed then fell


finance .

Leave a Reply