Novavax Posts Unexpected Q2 Profit on Earlier COVID Revenue

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Novavax Posts Unexpected Q2 Profit on Earlier COVID Revenue

Reuters2023-08-08

Aug 8 (Reuters) - Novavax on Tuesday posted an unexpected second-quarter profit on earlier-than-expected revenue from its COVID-19 vaccine, but still trimmed its full-year forecast for sales of the shot.

Revenue was $424 million in the quarter, up from $186 million a year ago, helped by a $100 million payment that Canada made in order to cancel doses that it had ordered for 2022.

Analysts had expected revenue of $240 million, according to Refinitiv IBES data.

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