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Novavax: The COVID Gig Is Over

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  • Novavax, Inc. reported Q3 2023 numbers above consensus estimates based almost solely on grant revenue.
  • The company cut guidance for 2023 revenues and even pushed out a large portion of those revenues to Q1 2024 due to weak COVID vaccine demand.
  • The stock continues to decline as the company remains disconnected from the market demand for COVID vaccines.
Novavax, Inc. (NASDAQ:NVAX) continues to trend lower as the biotech still sounds somewhat disjointed from the market demand for COVID vaccines. Ironically, the company announced another cost reduction plan, a sure sign of the actual direction of vaccine demand is much lower. My investment thesis remains Bearish on NVAX stock, even at the multi-year lows near $6.

Read the full article on Seeking Alpha. 

Disclosure: Long UA. Please review the disclaimer page for more details. 

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