COVID-19 vaccine maker Novavax to slash quarter of global workforce; shares surge over higher-than-expected revenue1 min read 09 May 2023, 11:23 PM IST
Novavax, the manufacturer of the COVID-19 vaccine, has revealed its intention to reduce its global workforce by approximately 25% in an effort to decrease costs.
COVID-19 vaccine maker Novavax has announced plans to cut about a quarter of its global workforce as it seeks to reduce expenses. The company's shares jumped as much as 40% on Tuesday as it forecast a much higher 2023 revenue than Wall Street expected and spurred hopes of a recovery for the cash-strapped biotech.
Select your Category