Novavax Stock is Slipping After the Vaccine Maker Cut its Outlook Again

Group 1 - Novavax shares declined after the company reduced its full-year revenue guidance in its third-quarter results [1][3] - The revised full-year revenue expectation is $650 million to $700 million, down from a previous estimate of $700 million to $800 million, and below the analyst consensus of $747.6 million [2] - In the third quarter, revenue decreased by 55% year-over-year to $85 million, compared to $187 million a year earlier, although it exceeded analysts' expectations [3] Group 2 - The FDA has allowed Novavax to continue testing its combination COVID-19-flu and standalone flu vaccines after lifting a clinical hold on the studies [4] - The FDA's decision enables Novavax to begin enrolling participants for a planned Phase 3 trial, indicating that the company has satisfactorily addressed all clinical hold issues [4]