Novavax sales tumble 75%, will cut another $300M in expenses

Novavax sales tumble 75%, will cut another $300M in expenses

Gaithersburg, Maryland-based COVID-19 vaccine maker Novavax, which announced a restructuring this summer that included cutting its workforce by 25%, saw its third quarter revenue tumble and it plans to further reduce expenses by millions of dollars. Novavax is also making progress on its combination vaccine targeting COVID and the flu, which will enter late-stage clinical trials next year. “As previously stated, one of our key objectives is to s…