Earnings

Novavax (NVAX) Q1 earnings report 2023

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A health worker prepares a dose of the Novavax vaccine as the Dutch Health Service Organization starts with the Novavax vaccination program on March 21, 2022 in The Hague, Netherlands.

Patrick Van Katwijk | Getty Images

Share prices of Novavax jumped about 30% on Tuesday after the biotech company unveiled promising new vaccine data and a broad cost-cutting push that includes major layoffs. 

The announcements are a sign of hope for investors after last quarter, when the company raised doubts about its ability to stay in business and decided not to provide full-year guidance. Novavax’s share prices are now up about 6% so far this year, giving it a market value of nearly $950 million.

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Source cnbc.com

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