Novavax cuts 2024 revenue forecast again on lower COVID vaccine sales [Yahoo! Finance]
Sanofi - American Depositary Shares (SNY)
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sanofi.com/en/investors
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Source: Yahoo! Finance
vaccine, ahead of handing over the rights to sell the shot to French drugmaker Sanofi ( SNY Shares of the U.S. biotech firm dropped about 8.2% to $8.28 in premarket trading. The U.S. vaccine maker now expects between $175 million and $225 million for full-year sales of its COVID vaccine, its only product on the market, down from the $275 million to $375 million it previously forecast. "We were hopeful to get a larger market share this year," Novavax CEO John Jacobs said in an interview, adding that the company was averaging about 3% of the market weekly. If the company doesn't see the sales trend turn more positive in the current quarter, Jacobs said, "we would be under what we were hoping to get in the U.S. on revenue, so we took that number down to be conservative." The company also cut its sales projection when it reported second-quarter earnings in August. Novavax's COVID vaccine brought in sales of $38.21 million for the third quarter, ahead of analysts' average expec
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SNY
Analyst Actions
- 9/19/24 - Citigroup Inc.
SNY
Sec Filings
- 11/7/24 - Form SC
- 11/7/24 - Form 6-K
- 10/31/24 - Form 6-K
- SNY's page on the SEC website