COVID-19 vaccine maker Novavax Inc on Tuesday raised doubts about its ability to remain in business and announced plans to slash spending as it works to prepare for a fall vaccination campaign.
However, Jacobs cautioned that there are risks in the near term to that operating plan, including the fact that protein-based vaccines like Novavax's take longer to produce than their messenger RNA-based competitors.
The CEO said the company has been spending at a "hot rate," and plans to cut back, likely including job cuts. Novavax is looking at all options that properly value its technology, pipeline and manufacturing capabilities on three continents, from partnerships to licensing deals to "different types of deals that could be much more significant," the CEO said.
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