Novavax Stock Tumbles on Report That Vaccine Deliveries Are Lagging

4 months ago 106
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Novavax shares were plunging more than 15% Tuesday after the company acknowledged to Reuters that it has completed delivery of only about 10 million doses of its Covid-19 vaccine—far fewer than expected.

Novavax (ticker: NVAX) said as recently as last month that it had committed to distributing 2 billion doses of its Covid-19 vaccine around the globe. In a presentation at an investor conference in January, the company’s CEO, Stanley Erck, said that its global manufacturing and supply network “supports over 2 billion annual...

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