Novavax reports Q4 EPS ($2.28), consensus (92c)

Reports Q4 revenue $357M, consensus $383.14M. Cash, cash equivalents, and restricted cash were $1.3B as of December 31, 2022, compared to $1.5B as of December 31, 2021. "I am excited to be joining Novavax at this important time in the company’s history," said John C. Jacobs, President and CEO. "Much has been achieved over the past three years, and based on the foundation that has been laid to date, I believe that Novavax has significant potential for a bright future. Over the past few weeks, the management team and I have identified three near-term priorities that we believe are essential to our success this year and beyond: 1) to deliver a competitive product for the upcoming 2023 fall vaccination season; 2) to reduce our rate of spend, manage our cash flow, and evolve our scale and structure; and 3) to leverage our technology platform, our capabilities and our portfolio of assets to drive additional value beyond Nuvaxovid alone. We believe that if we succeed in executing against these priorities, we will position the company well for long-term success."