Novavax Slides After Q1 Revenue Misses Estimates

Novavax, Inc. (NVAX) shares are sliding more than 9 percent on Tuesday morning trade after the first quarter revenues missed estimates and the global demand for COVID-19 vaccine is on the decline.

The company reported quarterly revenue of $703.97 million, while analysts were looking for $845.2 million.

Currently, shares are trading at $48.19, down 9.52 percent from the previous close of $53.26 on a volume of 5,924,330.

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