Novavax, Inc. shares slumped 22.27 percent after-hours on Monday, reacting to its quarterly financial report. What would have been a trophy quarter to flaunt, given COVID-19 revenue only just began to trickle in, turned out to be a big disappointment.
Here’re five reasons why the COVID-19 vaccine maker’s report triggered a negative reaction:
1. Vaccine Revenue Don’t Live up to Expectations
Topline came in at $704 million compared to the $845.2 million-consensus estimate. The revenue tilted more toward the low-end of the consensus range of $650 million to $1.04 billion. Novavax had one full quarter of COVID-19 revenue, given it began selling the first doses of the vaccine in Indonesia in the fourth quarter itself.
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