Business
Novavax Reports Fourth Quarter and Full Year 2022 Financial Results and Operational Highlights
Achieved revenues in fourth quarter 2022 of $357 million and full year 2022 of $2.0 billionAppointed John C. Jacobs as President and Chief Executive
About this update from Novavax, Inc.
[{"type":"text","content":"Achieved revenues in fourth quarter 2022 of $357 million and full year 2022 of $2.0 billionAppointed John C. Jacobs as President and Chief Executive OfficerUpdated U.S. government agreement to include up to 1.5 million additional doses of Novavax's COVID-19 vaccine for delivery in 2023Expanded Nuvaxovid™ label in adult booster and adolescent primary seriesInitiated Phase 2 trial of COVID-19-Influenza Combination and stand-alone influenza vaccine candidatesCompany to host conference call today at 4:30 p.m. ETGAITHERSBURG, Md., Feb. 28, 2023 /PRNewswire/ -- Novavax, Inc. (Nasdaq: NVAX), a global company advancing protein-based vaccines with its novel Matrix-M™ adjuvant, today announced its financial results and operational highlights for the fourth quarter and twelve months ended December 31, 2022. \n\"I am excited to be joining Novavax at this important time in the company's history,\" said John C. Jacobs, President and Chief Executive Officer, Novavax. \"Much has been achieved over the past three years, and based on the foundation that has been laid to date, I believe that Novavax has significant potential for a bright future.\"\n\"Over the past few weeks, the management team and I have identified three near-term priorities that we believe are essential to our success this year and beyond: 1) to deliver a competitive product for the upcoming 2023 fall vaccination season; 2) to reduce our rate of spend, manage our cash flow, and evolve our scale and structure; and 3) to leverage our technology platform, our capabilities and our portfolio of assets to drive additional value beyond Nuvaxovid alone. We believe that if we succeed in executing against these priorities, we will position the company well for long-term success.\"\nFourth Quarter 2022 and Recent Highlights\nCOVID-19 Vaccine Orders and Plans for the 2023 Fall Vaccination Season \nDelivered over 100 million doses of Nuvaxovid, Novavax's COVID-19 vaccine, globally to dateModified agreement with the U.S. government for up to 1.5 million additional doses of Novavax's COVID-19 vaccine for delivery in 2023Agreement maintains the U.S. public's access to Novavax's COVID-19 vaccine and supports the development of smaller dose vials, strain selection in line with U.S. Food and Drug Administration (FDA) recommendations and a smooth transition to the commercial marketReaffirmed intent...