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Novavax reports large quarterly revenue declines, rethinks its strategic direction

Yahoo Finance
Summary
Nutrition label

87% Informative

Novavax reported $88 million in revenues in the fourth quarter , compared to $291 million the year prior .

The sharp decline reflected slumping sales of its COVID-19 vaccine.

Sales figures also reflected revenues of $200 million from the sale of a manufacturing facility in the Czech Republic to Novo Nordisk .

CEO John Jacobs said he is still getting support from the federal government to develop the company's pandemic flu vaccine.